Freedom Investment Management Inc. Decreases Position in Corteva, Inc. $CTVA

Freedom Investment Management Inc. decreased its stake in Corteva, Inc. (NYSE:CTVA) by 8.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,749 shares of the company’s stock after selling 433 shares during the period. Freedom Investment Management Inc.’s holdings in Corteva were worth $354,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Moody National Bank Trust Division boosted its position in shares of Corteva by 0.7% in the second 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 boosted its holdings in Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after purchasing an additional 152 shares during the last quarter. Plancorp LLC boosted its holdings in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after purchasing an additional 158 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in Corteva by 4.4% in the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock valued at $237,000 after purchasing an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.2%

NYSE:CTVA opened at $63.63 on Monday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $68.53 and its two-hundred day moving average is $69.20. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a market cap of $43.21 billion, a PE ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76.

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

Corteva Increases Dividend

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

Analyst Ratings Changes

A number of brokerages recently commented on CTVA. Wall Street Zen downgraded Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Morgan Stanley set a $84.00 price target on Corteva in a report on Monday, September 15th. Oppenheimer reduced their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. KeyCorp reissued a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Citigroup downgraded Corteva from a “buy” rating to a “neutral” rating and reduced their price target for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.94.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

Corteva Company Profile

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.