Corteva, Inc. $CTVA Shares Sold by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 17.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,504 shares of the company’s stock after selling 1,363 shares during the period. HBK Sorce Advisory LLC’s holdings in Corteva were worth $485,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Peak Financial Advisors LLC acquired a new position in Corteva during the 2nd quarter worth approximately $505,000. Cary Street Partners Financial LLC grew its stake in shares of Corteva by 20.7% during the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments grew its stake in shares of Corteva by 68.5% during the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 70.3% during the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after purchasing an additional 67,869 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Activity at Corteva

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

Corteva Trading Down 0.3%

Shares of Corteva stock opened at $61.51 on Friday. The company has a fifty day simple moving average of $67.53 and a 200-day simple moving average of $69.26. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.41 and a beta of 0.76. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the prior year, the firm earned $1.83 EPS. Corteva’s revenue for the quarter was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio is presently 35.12%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on CTVA. Jefferies Financial Group lowered their target price on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday, October 17th. Argus lowered their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and lowered their target price for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Finally, Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. 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 stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.69.

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.