GRIMES & Co WEALTH MANAGEMENT LLC Acquires Shares of 14,000 Corteva, Inc. $CTVA

GRIMES & Co WEALTH MANAGEMENT LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 14,000 shares of the company’s stock, valued at approximately $947,000.

A number of other hedge funds also recently bought and sold shares of CTVA. Gladwyn Financial Advisors Inc. bought a new position in Corteva during the 2nd quarter valued at approximately $25,000. True Wealth Design LLC raised its holdings in shares of Corteva by 209.5% during the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares in the last quarter. Total Investment Management Inc. purchased a new stake in Corteva in the second quarter worth $27,000. Curat Global LLC boosted its holdings in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after acquiring an additional 179 shares in the last quarter. Finally, Maryland Capital Advisors Inc. purchased a new position in Corteva during the 2nd quarter valued at $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on CTVA. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price for the company in a research report on Thursday, October 2nd. UBS Group decreased their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Argus cut their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Oppenheimer reiterated an “outperform” rating and set a $76.00 target price on shares of Corteva in a report on Friday, November 7th. Finally, Rothschild & Co Redburn lowered their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Sixteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.21.

Corteva Trading Up 0.6%

Corteva stock opened at $68.90 on Wednesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The business’s fifty day simple moving average is $66.41 and its two-hundred day simple moving average is $68.68. The company has a market capitalization of $46.56 billion, a price-to-earnings ratio of 29.44, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 9.19% and a return on equity of 9.37%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.49) earnings per share. As a group, equities analysts predict 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 issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.