Corteva, Inc. $CTVA Shares Sold by Addison Capital Co

Addison Capital Co trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 5.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,595 shares of the company’s stock after selling 632 shares during the quarter. Addison Capital Co’s holdings in Corteva were worth $667,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Cary Street Partners Financial LLC increased its stake in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. Scissortail Wealth Management LLC boosted its holdings in shares of Corteva by 72,080.0% in the fourth quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock worth $206,000 after buying an additional 3,604 shares during the period. Allworth Financial LP increased its position in shares of Corteva by 11.8% in the first quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock worth $945,000 after acquiring an additional 1,614 shares in the last quarter. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Corteva by 13.9% in the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after acquiring an additional 536 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Citigroup cut Corteva from a “neutral” rating to a “mixed” rating in a research report on Friday, September 5th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. Oppenheimer set a $87.00 price objective on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $80.25.

Corteva Trading Down 1.0%

NYSE CTVA opened at $71.79 on Thursday. The company has a market capitalization 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. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The firm’s fifty day simple moving average is $73.16 and its 200-day simple moving average is $67.96.

Corteva (NYSE:CTVA) last issued its earnings results 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 return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. The business’s quarterly revenue was up 5.6% compared to the same quarter last year. 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 will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s payout ratio is 35.12%.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva 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 directly owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 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.