2,728 Shares in Corteva, Inc. $CTVA Purchased by IFG Advisors LLC

IFG Advisors LLC bought a new position in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,728 shares of the company’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Mutual Advisors LLC raised its position in Corteva by 28.7% during the second quarter. Mutual Advisors LLC now owns 6,980 shares of the company’s stock valued at $513,000 after purchasing an additional 1,556 shares during the period. Ritholtz Wealth Management grew its stake in Corteva by 42.8% in the second quarter. Ritholtz Wealth Management now owns 45,528 shares of the company’s stock worth $3,393,000 after purchasing an additional 13,637 shares in the last quarter. Harbour Investments Inc. grew its stake in Corteva by 13.6% in the second quarter. Harbour Investments Inc. now owns 2,737 shares of the company’s stock worth $204,000 after purchasing an additional 328 shares in the last quarter. Bayforest Capital Ltd grew its stake in Corteva by 3.2% in the second quarter. Bayforest Capital Ltd now owns 8,255 shares of the company’s stock worth $615,000 after purchasing an additional 258 shares in the last quarter. Finally, Sagespring Wealth Partners LLC lifted its holdings in Corteva by 51.3% during the second quarter. Sagespring Wealth Partners LLC now owns 11,822 shares of the company’s stock worth $881,000 after buying an additional 4,006 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the business’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 of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTVA. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. UBS Group cut their price target on Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research report on Monday, October 6th. BMO Capital Markets set a $86.00 target price on Corteva in a research report on Monday, September 15th. Jefferies Financial Group dropped their target price on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 target price (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. One equities research 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 company. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.81.

Corteva Stock Performance

NYSE:CTVA opened at $62.68 on Wednesday. The company has a fifty day simple moving average of $70.00 and a two-hundred day simple moving average of $68.96. The company has a market cap of $42.56 billion, a price-to-earnings ratio of 30.57, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. 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 52 week low of $53.40 and a 52 week high of $77.41.

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

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. The ex-dividend date 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 dividend yield of 1.1%. Corteva’s payout ratio is presently 35.12%.

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.