Corteva, Inc. (NYSE:CTVA) Shares Purchased by Procyon Advisors LLC

Procyon Advisors LLC boosted its stake in Corteva, Inc. (NYSE:CTVA) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,200 shares of the company’s stock after purchasing an additional 286 shares during the period. Procyon Advisors LLC’s holdings in Corteva were worth $776,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva during the first quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter valued at about $25,000. Rise Advisors LLC grew its stake in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. Albion Financial Group UT grew its stake in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares in the last quarter. Finally, Ironwood Wealth Management Inc. grew its stake in shares of Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

CTVA opened at $57.31 on Wednesday. The business’s 50 day moving average is $55.89 and its 200-day moving average is $55.02. The stock has a market cap of $39.94 billion, a PE ratio of 72.54, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $59.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter last year, the business earned $1.60 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current 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 paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTVA shares. Wells Fargo & Company reduced their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Mizuho reduced their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

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.