Garner Asset Management Corp Sells 2,509 Shares of Corteva, Inc. $CTVA

Garner Asset Management Corp trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 17.1% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,202 shares of the company’s stock after selling 2,509 shares during the period. Garner Asset Management Corp’s holdings in Corteva were worth $909,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva during the second quarter worth $25,000. Curat Global LLC increased its stake in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. purchased a new position in Corteva in the 2nd quarter worth about $29,000. DHJJ Financial Advisors Ltd. lifted its holdings in Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares in the last quarter. Finally, Princeton Global Asset Management LLC boosted its position in Corteva by 61.5% in the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Thursday, October 2nd. Rothschild & Co Redburn reduced their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. Oppenheimer reiterated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a report on Friday, November 7th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Finally, Wells Fargo & Company decreased their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Fifteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $78.05.

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

Corteva Trading Up 1.0%

Shares of NYSE:CTVA opened at $66.71 on Thursday. The company has a market capitalization of $45.07 billion, a PE ratio of 28.51, a P/E/G ratio of 1.50 and a beta of 0.81. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The business’s fifty day simple moving average is $64.61 and its 200-day simple moving average is $69.69.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter last year, the company earned ($0.49) earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Monday, December 1st. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

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.