Vanguard Group Inc. Increases Stock Position in Corteva, Inc. $CTVA

Vanguard Group Inc. boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,188,326 shares of the company’s stock after buying an additional 373,680 shares during the quarter. Vanguard Group Inc. owned approximately 11.81% of Corteva worth $5,976,436,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of CTVA. Moody National Bank Trust Division grew its position in shares of Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after acquiring an additional 143 shares during the period. Ancora Advisors LLC boosted its position in Corteva by 0.8% during 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 in the last quarter. NORTHSTAR ASSET MANAGEMENT Co grew its holdings in Corteva by 2.2% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC increased its position in shares of Corteva by 0.5% in the first 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 in the last quarter. Finally, Plancorp LLC increased its position in shares of Corteva by 2.3% in the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock valued at $450,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $64.55 on Wednesday. The company has a market cap of $43.62 billion, a P/E ratio of 27.58, a P/E/G ratio of 1.46 and a beta of 0.81. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company’s 50-day moving average price is $65.36 and its 200-day moving average price is $69.68. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company earned ($0.49) EPS. Corteva’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a report on Sunday. Rothschild & Co Redburn dropped their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley set a $84.00 price target on shares of Corteva in a research report on Monday, September 15th. Finally, Citigroup raised their price target on shares of Corteva from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, November 6th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $78.39.

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.