Corteva, Inc. $CTVA Shares Acquired by Bronte Capital Management Pty Ltd.

Bronte Capital Management Pty Ltd. lifted its position in Corteva, Inc. (NYSE:CTVA) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 647,820 shares of the company’s stock after acquiring an additional 76,388 shares during the period. Corteva accounts for 0.0% of Bronte Capital Management Pty Ltd.’s holdings, making the stock its 17th largest position. Bronte Capital Management Pty Ltd. owned about 0.10% of Corteva worth $48,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its holdings in Corteva by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares in the last quarter. Ancora Advisors LLC raised its position in shares of Corteva by 0.8% in the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock valued at $1,168,000 after buying an additional 150 shares during the last quarter. NORTHSTAR ASSET MANAGEMENT Co lifted its stake in shares of Corteva by 2.2% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock worth $517,000 after buying an additional 150 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after buying an additional 152 shares in the last quarter. Finally, Empirical Finance LLC boosted its position in Corteva by 0.6% during the second quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after acquiring an additional 153 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

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 that occurred on 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 sale, the executive vice president directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Corteva Price Performance

NYSE:CTVA opened at $64.63 on Thursday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The stock’s fifty day moving average is $65.22 and its two-hundred day moving average is $69.64. The company has a market capitalization of $43.67 billion, a P/E ratio of 27.62, a P/E/G ratio of 1.46 and a beta of 0.81. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research reports. Wolfe Research raised their target price on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Barclays upgraded Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a report on Sunday. Oppenheimer reaffirmed an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Finally, Jefferies Financial Group lowered their price target on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $78.05.

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.