Corteva, Inc. (NYSE:CTVA) Shares Bought by Albion Financial Group UT

Albion Financial Group UT lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 77.2% during the first quarter, Holdings Channel reports. The firm owned 505 shares of the company’s stock after buying an additional 220 shares during the period. Albion Financial Group UT’s holdings in Corteva were worth $29,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in the stock. CVA Family Office LLC acquired a new stake in Corteva in the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new position in Corteva during the 4th quarter valued at about $27,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the period. ICA Group Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $28,000. Finally, Scarborough Advisors LLC acquired a new stake in Corteva in the 4th quarter valued at approximately $29,000. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE:CTVA opened at $52.48 on Thursday. The company has a market cap of $36.58 billion, a P/E ratio of 66.43, a price-to-earnings-growth ratio of 1.41 and a beta of 0.77. The company’s fifty day moving average is $54.68 and its two-hundred day moving average is $52.92. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm earned $1.16 earnings per share. Corteva’s quarterly revenue was down 8.0% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.22%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Insiders Place Their Bets

In related news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last ninety days. Corporate insiders own 0.20% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. Mizuho cut their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 target price (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. BMO Capital Markets lifted their price target on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $63.00.

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.