Strengthening Families & Communities LLC Has $3.33 Million Stock Position in Corteva, Inc. $CTVA

Strengthening Families & Communities LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 44,932 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Corteva makes up about 1.8% of Strengthening Families & Communities LLC’s holdings, making the stock its 16th biggest position. Strengthening Families & Communities LLC’s holdings in Corteva were worth $3,331,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the business. Strong Tower Advisory Services increased its stake in shares of Corteva by 4.6% during the 2nd quarter. Strong Tower Advisory Services now owns 42,148 shares of the company’s stock worth $3,141,000 after purchasing an additional 1,840 shares during the last quarter. PDS Planning Inc acquired a new position in Corteva in the 2nd quarter valued at $213,000. Wealthstar Advisors LLC acquired a new position in Corteva in the 2nd quarter valued at $1,664,000. 3Chopt Investment Partners LLC grew its stake in Corteva by 10.7% in the 2nd quarter. 3Chopt Investment Partners LLC now owns 5,857 shares of the company’s stock valued at $437,000 after buying an additional 568 shares during the last quarter. Finally, Horizon Bancorp Inc. IN grew its stake in Corteva by 27.2% in the 2nd quarter. Horizon Bancorp Inc. IN now owns 4,670 shares of the company’s stock valued at $348,000 after buying an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft raised 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. Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 target price (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Mizuho reduced their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $80.13.

Corteva Price Performance

NYSE:CTVA opened at $61.90 on Friday. The company has a 50-day moving average of $70.38 and a 200-day moving average of $68.91. The company has a market capitalization of $42.04 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.42 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 debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm earned $1.83 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Corteva’s dividend payout ratio is 35.12%.

Insider Activity

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is 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.