Stephens Inc. AR Has $761,000 Stock Holdings in Corteva, Inc. $CTVA

Stephens Inc. AR cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.3% during the 2nd quarter, Holdings Channel reports. The firm owned 10,206 shares of the company’s stock after selling 455 shares during the quarter. Stephens Inc. AR’s holdings in Corteva were worth $761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CTVA. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Jefferies Financial Group decreased their target price on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Oppenheimer decreased their target price on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, BMO Capital Markets set a $86.00 target price on shares of Corteva in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.94.

Corteva Stock Performance

Shares of Corteva stock opened at $63.63 on Friday. The company has a 50 day moving average of $68.53 and a 200-day moving average of $69.04. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $43.21 billion, a PE ratio of 31.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76.

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

Corteva Increases Dividend

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

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred 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 transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.