Corteva, Inc. $CTVA Shares Bought by J. Safra Sarasin Holding AG

J. Safra Sarasin Holding AG boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 24.3% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 19,363 shares of the company’s stock after purchasing an additional 3,790 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Corteva were worth $1,443,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Moody National Bank Trust Division raised its holdings in Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after buying an additional 143 shares during the period. Ancora Advisors LLC raised its holdings in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after buying an additional 150 shares during the period. NewEdge Advisors LLC raised its holdings in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after buying an additional 152 shares during the period. Plancorp LLC raised its holdings in Corteva by 2.3% during the 1st quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after buying an additional 158 shares during the period. Finally, Legacy Financial Advisors Inc. raised its holdings in Corteva by 4.4% during the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after buying an additional 160 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a report on Thursday. Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and dropped their target price for the company from $83.00 to $70.00 in a report on Thursday. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corteva in a report on Saturday, September 27th. Finally, KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.67.

Corteva Trading Down 0.2%

NYSE:CTVA opened at $63.36 on Friday. The stock’s 50 day moving average price is $71.24 and its 200 day moving average price is $68.85. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a market capitalization of $43.03 billion, a P/E ratio of 30.91, a P/E/G ratio of 1.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.83 earnings per share. On average, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

About Corteva

Corteva, Inc operates in the agriculture business. It operates through two segments, Seed and Crop Protection. The Seed segment develops and supplies advanced germplasm and traits that produce optimum yield for farms. It offers trait technologies that enhance resistance to weather, disease, insects, and herbicides used to control weeds, as well as food and nutritional characteristics.