Oppenheimer Asset Management Inc. Sells 19,878 Shares of Corteva, Inc. $CTVA

Oppenheimer Asset Management Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 77.2% during the second quarter, Holdings Channel.com reports. The firm owned 5,860 shares of the company’s stock after selling 19,878 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $437,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. bought a new position in shares of Corteva during the second quarter worth approximately $25,000. Maryland Capital Advisors Inc. bought a new position in Corteva during the 2nd quarter worth $29,000. Princeton Global Asset Management LLC increased its stake in Corteva by 61.5% during the 2nd quarter. Princeton Global Asset Management LLC now owns 525 shares of the company’s stock worth $39,000 after acquiring an additional 200 shares during the period. DHJJ Financial Advisors Ltd. increased its stake in Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock worth $39,000 after acquiring an additional 300 shares during the period. Finally, von Borstel & Associates Inc. bought a new position in Corteva during the 1st quarter worth $44,000. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.3%

NYSE CTVA opened at $61.51 on Friday. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a market cap of $41.77 billion, a price-to-earnings ratio of 30.00, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. The business’s fifty day moving average is $67.53 and its 200 day moving average is $69.33.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the business posted $1.83 EPS. Corteva’s revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on 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 sale, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have commented on CTVA. Wolfe Research lowered their price objective on Corteva from $80.00 to $79.00 and set an “outperform” rating on the stock in a research note on Monday, October 27th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Mizuho lowered their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. Citigroup lowered Corteva from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $83.00 to $70.00 in a research note on Thursday, October 2nd. Finally, Weiss Ratings downgraded Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Fifteen analysts have rated the stock with a Buy rating and five have assigned 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 price target of $79.65.

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.