Corteva, Inc. $CTVA Shares Sold by Brandywine Oak Private Wealth LLC

Brandywine Oak Private Wealth LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 1.1% in the second quarter, HoldingsChannel.com reports. The firm owned 47,954 shares of the company’s stock after selling 554 shares during the quarter. Brandywine Oak Private Wealth LLC’s holdings in Corteva were worth $3,574,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Maryland Capital Advisors Inc. acquired a new position in Corteva in the second quarter valued at approximately $29,000. Valley National Advisers Inc. lifted its stake in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after buying an additional 243 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in Corteva in the first quarter valued at approximately $37,000. DHJJ Financial Advisors Ltd. lifted its stake in Corteva by 132.2% in the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after buying an additional 300 shares during the last quarter. Finally, von Borstel & Associates Inc. purchased a new stake in Corteva in the first quarter valued at approximately $44,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 0.6%

NYSE:CTVA opened at $62.76 on Friday. The stock has a fifty day moving average price of $70.57 and a two-hundred day moving average price of $68.91. The stock has a market capitalization of $42.62 billion, a price-to-earnings ratio of 30.61, a PEG ratio of 1.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm 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%.Corteva’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.18 dividend. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research reports. Citigroup cut Corteva from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $83.00 to $70.00 in a research note on Thursday, October 2nd. BMO Capital Markets set a $86.00 price objective on Corteva in a research note on Monday, September 15th. Jefferies Financial Group reduced their price objective on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their price objective on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was 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 in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

About Corteva

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.