Arkadios Wealth Advisors Buys 3,501 Shares of Corteva, Inc. (NYSE:CTVA)

Arkadios Wealth Advisors lifted its stake in Corteva, Inc. (NYSE:CTVA) by 65.0% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 8,887 shares of the company’s stock after purchasing an additional 3,501 shares during the quarter. Arkadios Wealth Advisors’ holdings in Corteva were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTVA. Capital International Investors raised its stake in Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after acquiring an additional 678,722 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Corteva by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the period. Legal & General Group Plc increased its stake in shares of Corteva by 0.9% in 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Corteva by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after purchasing an additional 224,423 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in shares of Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on CTVA shares. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. KeyCorp lowered their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $62.84.

Corteva Stock Performance

NYSE CTVA opened at $60.80 on Wednesday. The business’s 50 day moving average price is $57.41 and its 200-day moving average price is $55.24. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $61.38. The company has a market cap of $42.38 billion, a P/E ratio of 76.96, a P/E/G ratio of 1.66 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share 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 analysts’ expectations of $6.15 billion. During the same quarter in the previous year, the business posted $1.60 earnings per share. The business’s revenue was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.12%. Corteva’s dividend payout ratio (DPR) is currently 86.08%.

About Corteva

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.