Good Life Advisors LLC Boosts Position in Corteva, Inc. (NYSE:CTVA)

Good Life Advisors LLC lifted its position in Corteva, Inc. (NYSE:CTVA) by 15.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,071 shares of the company’s stock after buying an additional 697 shares during the quarter. Good Life Advisors LLC’s holdings in Corteva were worth $298,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Redmont Wealth Advisors LLC purchased a new position in Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva during the first quarter worth about $25,000. Albion Financial Group UT raised its stake in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Ironwood Wealth Management Inc. lifted its position in 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 purchasing an additional 280 shares during the last quarter. Finally, Cultivar Capital Inc. purchased a new position in Corteva in the 2nd quarter worth approximately $34,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $67.00 in a report on Wednesday. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, KeyCorp decreased their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $62.21.

Corteva Price Performance

CTVA opened at $59.41 on Friday. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $41.41 billion, a PE ratio of 75.20, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The stock’s 50 day moving average price is $56.36 and its 200-day moving average price is $55.07. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.68.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.60 EPS. On average, equities research analysts predict that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.14%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is presently 86.08%.

Corteva Company 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.