Corteva, Inc. $CTVA Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd increased its stake in Corteva, Inc. (NYSE:CTVA) by 40.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,463 shares of the company’s stock after purchasing an additional 5,326 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Corteva were worth $1,376,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Peak Financial Advisors LLC purchased a new stake in Corteva in the 2nd quarter worth $505,000. Cary Street Partners Financial LLC increased its holdings in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares in the last quarter. PGGM Investments increased its holdings in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC increased its holdings in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Down 0.3%

Shares of CTVA stock opened at $61.51 on Monday. The company’s 50-day moving average price is $67.53 and its 200-day moving average price is $69.40. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 30.00, a PEG ratio of 1.40 and a beta of 0.81. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results 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. The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 EPS. As a group, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given 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 payout ratio is presently 35.12%.

Analyst Ratings Changes

CTVA has been the topic of several recent research reports. Weiss Ratings cut shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Mizuho lowered their target price 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. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Fifteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $79.65.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

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.