Anchor Investment Management LLC Has $371,000 Stock Holdings in Corteva, Inc. $CTVA

Anchor Investment Management LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 16.0% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,896 shares of the company’s stock after purchasing an additional 815 shares during the period. Anchor Investment Management LLC’s holdings in Corteva were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Ancora Advisors LLC raised its holdings in Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC increased its position in shares of Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after acquiring an additional 152 shares in the last quarter. Plancorp LLC increased its position in shares of Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after acquiring an additional 158 shares in the last quarter. Legacy Financial Advisors Inc. increased its position in shares of Corteva by 4.4% during the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after acquiring an additional 160 shares in the last quarter. Finally, One Wealth Capital Management LLC increased its position in shares of Corteva by 3.4% during the first quarter. One Wealth Capital Management LLC now owns 4,835 shares of the company’s stock worth $304,000 after acquiring an additional 161 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA opened at $71.79 on Thursday. The firm has a 50-day moving average of $73.16 and a 200-day moving average of $67.96. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a market cap of $48.75 billion, a PE ratio of 35.02, a price-to-earnings-growth ratio of 1.66 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating 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 last year, the firm posted $1.83 EPS. The company’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.18 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s payout ratio is 35.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CTVA shares. Wells Fargo & Company reissued an “overweight” rating and set a $83.00 price objective (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Oppenheimer set a $87.00 price objective on shares of Corteva and gave the stock an “outperform” rating in a research report on Tuesday, July 15th. Citigroup downgraded shares of Corteva from a “neutral” rating to a “mixed” rating in a research report on Friday, September 5th. Finally, UBS Group raised their target price on shares of Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, August 7th. Twelve analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $80.25.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction dated 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 trade represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by company 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.