Corteva, Inc. (NYSE:CTVA) Shares Acquired by Creative Planning

Creative Planning grew its position in Corteva, Inc. (NYSE:CTVA) by 5.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,558 shares of the company’s stock after acquiring an additional 6,705 shares during the quarter. Creative Planning’s holdings in Corteva were worth $7,420,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Corteva in the second quarter valued at approximately $30,901,000. Legal & General Group Plc lifted its holdings in shares of Corteva by 0.9% during the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock worth $363,662,000 after purchasing an additional 61,127 shares during the period. Mackenzie Financial Corp lifted its holdings in shares of Corteva by 0.4% during the second quarter. Mackenzie Financial Corp now owns 483,670 shares of the company’s stock worth $26,089,000 after purchasing an additional 1,748 shares during the period. MBB Public Markets I LLC acquired a new stake in shares of Corteva during the second quarter worth $2,767,000. Finally, Daymark Wealth Partners LLC lifted its holdings in shares of Corteva by 86.0% during the second quarter. Daymark Wealth Partners LLC now owns 30,612 shares of the company’s stock worth $1,651,000 after purchasing an additional 14,157 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the subject of several recent research reports. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. JPMorgan Chase & Co. decreased their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $61.94.

Corteva Trading Up 1.1 %

Shares of CTVA stock opened at $58.64 on Thursday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $59.08. The stock has a market cap of $40.87 billion, a P/E ratio of 74.23, a P/E/G ratio of 1.68 and a beta of 0.77. The business has a fifty day simple moving average of $55.27 and a 200-day simple moving average of $54.95. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 EPS. On average, analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

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.