Capital Advisors Inc. OK Sells 2,491 Shares of Corteva, Inc. $CTVA

Capital Advisors Inc. OK cut its holdings in Corteva, Inc. (NYSE:CTVA) by 41.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,535 shares of the company’s stock after selling 2,491 shares during the period. Capital Advisors Inc. OK’s holdings in Corteva were worth $263,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Moody National Bank Trust Division raised its position in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC increased its position in shares of Corteva by 0.8% during the 1st 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 raised its holdings in Corteva by 0.5% during 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 period. Plancorp LLC lifted its position in Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after buying an additional 158 shares during the last quarter. Finally, Legacy Financial Advisors Inc. boosted its stake in 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 buying an additional 160 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. UBS Group dropped their target price on Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a research report on Monday. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a report on Thursday, October 2nd. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $80.27.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the company’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 value of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares of the company’s stock, 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 is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Up 1.5%

Shares of NYSE:CTVA opened at $64.30 on Tuesday. The business’s 50 day moving average is $71.08 and its 200 day moving average is $68.97. The stock has a market cap of $43.67 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. 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 (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share 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 analysts’ expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.83 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a positive change 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 yield of 1.1%. Corteva’s payout ratio is 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.