Freedom Investment Management Inc. Decreases Position in Corteva, Inc. $CTVA

Freedom Investment Management Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,749 shares of the company’s stock after selling 433 shares during the quarter. Freedom Investment Management Inc.’s holdings in Corteva were worth $354,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada cut their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Oppenheimer cut their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Corteva in a report on Friday. BMO Capital Markets set a $86.00 target price on Corteva in a research note on Monday, September 15th. Finally, Wells Fargo & Company dropped their target price on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a research note on Thursday, October 16th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $79.94.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $63.63 on Monday. The firm has a market capitalization of $43.21 billion, a PE ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The business has a 50-day moving average of $68.53 and a two-hundred day moving average of $69.20. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

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

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. Corteva’s payout ratio is currently 35.12%.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by corporate 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.