Corteva, Inc. $CTVA Stock Holdings Lifted by Horizon Bancorp Inc. IN

Horizon Bancorp Inc. IN raised its stake in Corteva, Inc. (NYSE:CTVA) by 27.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,670 shares of the company’s stock after buying an additional 1,000 shares during the period. Horizon Bancorp Inc. IN’s holdings in Corteva were worth $348,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc increased its holdings in shares of Corteva by 6.1% in the second quarter. IFP Advisors Inc now owns 10,980 shares of the company’s stock valued at $818,000 after buying an additional 627 shares in the last quarter. Callan Family Office LLC increased its holdings in shares of Corteva by 222.6% in the second quarter. Callan Family Office LLC now owns 20,438 shares of the company’s stock valued at $1,523,000 after buying an additional 14,102 shares in the last quarter. Mainstay Capital Management LLC ADV bought a new position in shares of Corteva in the second quarter valued at $256,000. Leo Wealth LLC increased its holdings in shares of Corteva by 14.8% in the second quarter. Leo Wealth LLC now owns 8,068 shares of the company’s stock valued at $601,000 after buying an additional 1,039 shares in the last quarter. Finally, US Bancorp DE increased its holdings in shares of Corteva by 2.9% in the second quarter. US Bancorp DE now owns 264,780 shares of the company’s stock valued at $19,735,000 after buying an additional 7,502 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of several research reports. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Thursday, October 2nd. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Corteva from $83.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 15th. Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $80.13.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $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 SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Trading Down 0.6%

Corteva stock opened at $62.76 on Friday. The company’s fifty day simple moving average is $70.57 and its 200-day simple moving average is $68.91. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a market cap of $42.62 billion, a P/E ratio of 30.61, a P/E/G ratio of 1.43 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.83 EPS. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a boost 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%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio is currently 35.12%.

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.