D.A. Davidson & CO. Sells 984 Shares of Corteva, Inc. $CTVA

D.A. Davidson & CO. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 1.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 53,409 shares of the company’s stock after selling 984 shares during the quarter. D.A. Davidson & CO.’s holdings in Corteva were worth $3,981,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Nuveen LLC bought a new position in Corteva in the first quarter valued at approximately $640,333,000. WCM Investment Management LLC boosted its position in shares of Corteva by 29.6% during the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Corteva by 4,769.2% during the second quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after purchasing an additional 1,884,897 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after purchasing an additional 1,769,355 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after purchasing an additional 1,290,009 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 0.2%

Shares of NYSE:CTVA opened at $63.63 on Friday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $68.53 and its 200 day simple moving average is $69.04. The firm has a market cap of $43.21 billion, a price-to-earnings ratio of 31.04, a PEG ratio of 1.45 and a beta of 0.76.

Corteva (NYSE:CTVA) last issued 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. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same period last year, the business posted $1.83 earnings per share. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

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

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. Mizuho reduced their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 8th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, October 1st. Royal Bank Of Canada reduced their price target on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. Argus reduced their price target on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Finally, Jefferies Financial Group dropped their price objective on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $79.94.

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.