B. Riley Wealth Advisors Inc. Invests $570,000 in Corteva, Inc. $CTVA

B. Riley Wealth Advisors Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,645 shares of the company’s stock, valued at approximately $570,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. acquired a new stake in shares of Corteva during the 2nd quarter worth about $25,000. Curat Global LLC lifted its position in Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. acquired a new stake in Corteva during the second quarter worth approximately $29,000. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corteva during the second quarter worth approximately $29,000. Finally, Binnacle Investments Inc grew its position in shares of Corteva by 54.7% in the second quarter. Binnacle Investments Inc now owns 512 shares of the company’s stock valued at $38,000 after purchasing an additional 181 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Wolfe Research lifted their price target on Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Mizuho dropped their target price on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. 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. Finally, Royal Bank Of Canada cut their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.11.

Corteva Stock Performance

Shares of Corteva stock opened at $65.48 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company has a market cap of $44.25 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 1.49 and a beta of 0.74. The company has a 50 day moving average of $64.30 and a 200-day moving average of $69.40. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41.

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

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was 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.