CVA Family Office LLC grew its position in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 68.2% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 641 shares of the company’s stock after buying an additional 260 shares during the quarter. CVA Family Office LLC’s holdings in Corteva were worth $35,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors also recently modified their holdings of the company. Landmark Wealth Management LLC purchased a new stake in shares of Corteva during the 1st quarter worth approximately $47,000. Carl Stuart Investment Advisor Inc. purchased a new stake in shares of Corteva during the 1st quarter worth approximately $28,000. CKW Financial Group increased its stake in shares of Corteva by 1,083.7% during the 1st quarter. CKW Financial Group now owns 509 shares of the company’s stock worth $30,000 after purchasing an additional 466 shares during the last quarter. Hazlett Burt & Watson Inc. purchased a new stake in shares of Corteva during the 1st quarter worth approximately $31,000. Finally, Fieldpoint Private Securities LLC grew its stake in Corteva by 106.0% in the 1st quarter. Fieldpoint Private Securities LLC now owns 546 shares of the company’s stock valued at $31,000 after buying an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 79.02% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently weighed in on the stock. BMO Capital Markets lifted their price objective on shares of Corteva from $66.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, September 14th. Credit Suisse Group lifted their price objective on shares of Corteva to $72.00 in a research note on Tuesday, August 9th. Roth Capital upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $67.00 to $74.00 in a research note on Monday, August 8th. JPMorgan Chase & Co. upgraded shares of Corteva from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $58.00 to $63.00 in a research note on Monday, August 8th. Finally, Mizuho lifted their price objective on shares of Corteva from $68.00 to $69.00 and gave the company a “buy” rating in a research note on Monday, August 8th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.60.
Corteva Stock Performance
Corteva (NYSE:CTVA – Get Rating) last posted its quarterly earnings data on Thursday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.17. Corteva had a net margin of 10.31% and a return on equity of 7.26%. The company had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the firm posted $1.40 EPS. The firm’s revenue was up 11.6% compared to the same quarter last year. As a group, equities research analysts predict that Corteva, Inc. will post 2.6 EPS for the current fiscal year.
Corteva Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Friday, August 12th were paid a $0.15 dividend. The ex-dividend date of this dividend was Thursday, August 11th. This is an increase from Corteva’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 0.98%. Corteva’s payout ratio is currently 25.32%.
Corteva declared that its Board of Directors has approved a stock repurchase plan on Tuesday, September 13th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 4.3% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
Insiders Place Their Bets
In other Corteva news, insider Audrey Grimm sold 10,000 shares of the business’s stock in a transaction on Thursday, September 15th. The shares were sold at an average price of $62.79, for a total value of $627,900.00. Following the completion of the sale, the insider now directly owns 7,511 shares of the company’s stock, valued at $471,615.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.08% of the stock is currently owned by insiders.
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.
- Get a free copy of the StockNews.com research report on Corteva (CTVA)
- 3 Airline Stocks Stuck in a Holding Pattern
- Roku Stock is Down but Not Out
- Is Ford Rolling To A Rebound After Its Q3 Warning
- If You’re Hungry for Value, Take a Bite on Ruth’s Hospitality Grp
- Has AMD stock stock fallen too far?
Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.