Corteva, Inc. $CTVA Shares Acquired by Banco Bilbao Vizcaya Argentaria S.A.

Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 312.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 86,812 shares of the company’s stock after buying an additional 65,760 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in Corteva were worth $6,469,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the stock. Brighton Jones LLC raised its holdings in 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 in the last quarter. Apollon Wealth Management LLC lifted its holdings in shares of Corteva by 7.3% in the first quarter. Apollon Wealth Management LLC now owns 7,394 shares of the company’s stock valued at $465,000 after buying an additional 503 shares during the period. Victory Capital Management Inc. boosted its stake in Corteva by 9.9% during the first quarter. Victory Capital Management Inc. now owns 340,568 shares of the company’s stock valued at $21,432,000 after buying an additional 30,620 shares in the last quarter. Cullen Frost Bankers Inc. grew its holdings in Corteva by 20.8% during the first quarter. Cullen Frost Bankers Inc. now owns 6,037 shares of the company’s stock worth $380,000 after acquiring an additional 1,038 shares during the period. Finally, Graypoint LLC raised its position in Corteva by 17.5% in the first quarter. Graypoint LLC now owns 4,177 shares of the company’s stock worth $263,000 after acquiring an additional 621 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on CTVA. Mizuho reduced their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. BMO Capital Markets set a $86.00 target price on shares of Corteva in a research note on Monday, September 15th. The Goldman Sachs Group decreased their price target on shares of Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research report on Thursday, October 2nd. Finally, Wells Fargo & Company reduced their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Fifteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $78.39.

Insider Transactions at Corteva

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

Corteva Stock Down 0.3%

Shares of NYSE:CTVA opened at $65.98 on Friday. The firm has a 50 day simple moving average of $65.70 and a 200 day simple moving average of $69.60. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The company has a market cap of $44.58 billion, a PE ratio of 28.20, a price-to-earnings-growth ratio of 1.50 and a beta of 0.81.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.49) EPS. As a group, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Investors of record on Monday, December 1st will be paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio is currently 30.77%.

Corteva 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.