Koss Olinger Consulting LLC Sells 1,113 Shares of Corteva, Inc. $CTVA

Koss Olinger Consulting LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.4% during the 2nd quarter, Holdings Channel reports. The firm owned 31,711 shares of the company’s stock after selling 1,113 shares during the period. Koss Olinger Consulting LLC’s holdings in Corteva were worth $2,363,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in CTVA. Brighton Jones LLC increased 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 worth $888,000 after purchasing an additional 11,760 shares during the period. GAMMA Investing LLC increased its holdings in shares of Corteva by 15.0% during the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock worth $948,000 after purchasing an additional 1,962 shares during the period. Cambridge Investment Research Advisors Inc. increased its holdings in shares of Corteva by 12.4% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 49,377 shares of the company’s stock worth $3,107,000 after purchasing an additional 5,456 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Corteva by 322.7% during the first quarter. Golden State Wealth Management LLC now owns 2,388 shares of the company’s stock worth $150,000 after purchasing an additional 1,823 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of Corteva by 2.0% during the first quarter. Sequoia Financial Advisors LLC now owns 15,940 shares of the company’s stock worth $1,003,000 after purchasing an additional 305 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. UBS Group decreased their price objective on shares of Corteva from $91.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 1st. Mizuho decreased their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group decreased their price objective on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. One 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $79.94.

Corteva Stock Performance

Shares of Corteva stock opened at $63.63 on Monday. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. 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 firm has a market capitalization of $43.21 billion, a P/E ratio of 31.04, a P/E/G ratio of 1.46 and a beta of 0.76. The company’s 50 day moving average price is $68.53 and its two-hundred day moving average price is $69.20.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share 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 firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the business posted $1.83 earnings per share. The company’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s 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 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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.