Cullen Frost Bankers Inc. Has $464,000 Position in Corteva, Inc. $CTVA

Cullen Frost Bankers Inc. grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.1% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 6,227 shares of the company’s stock after buying an additional 190 shares during the period. Cullen Frost Bankers Inc.’s holdings in Corteva were worth $464,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Gladwyn Financial Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at about $25,000. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at about $29,000. Princeton Global Asset Management LLC raised its position in shares of Corteva by 61.5% during the second quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock valued at $39,000 after buying an additional 200 shares during the last quarter. Valley National Advisers Inc. raised its position in shares of Corteva by 85.9% during 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. Finally, DHJJ Financial Advisors Ltd. raised its position in shares of Corteva by 132.2% during 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. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity

In other 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 transaction, the executive vice president owned 49,262 shares in the company, 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 legal filing with the SEC, which is accessible through this link. Company insiders own 0.14% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $63.63 on Friday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a 50 day moving average of $68.53 and a 200-day moving average of $69.04. 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 stock has a market capitalization of $43.21 billion, a P/E ratio of 31.04, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. During the same quarter in the previous year, the company posted $1.83 earnings per share. Corteva’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 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio is presently 35.12%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on CTVA shares. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. BMO Capital Markets set a $86.00 price objective on Corteva in a report on Monday, September 15th. Morgan Stanley set a $84.00 price objective on Corteva in a report on Monday, September 15th. Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva 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.