Stonegate Investment Group LLC Sells 630 Shares of Corteva, Inc. (NYSE:CTVA)

Stonegate Investment Group LLC lessened its position in Corteva, Inc. (NYSE:CTVA) by 7.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,498 shares of the company’s stock after selling 630 shares during the quarter. Stonegate Investment Group LLC’s holdings in Corteva were worth $441,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC bought a new stake in Corteva in the first quarter worth about $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva during the 1st quarter worth approximately $25,000. Rise Advisors LLC boosted its holdings in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares during the period. Albion Financial Group UT grew its position in Corteva by 77.2% in the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after acquiring an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. increased its stake in Corteva by 106.1% in the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

CTVA stock opened at $59.42 on Friday. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.68. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 75.22, a PEG 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. The firm has a 50-day simple moving average of $56.36 and a two-hundred day simple moving average of $55.09.

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

Corteva Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their target price for the company from $59.00 to $67.00 in a research note on Wednesday. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. decreased their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. KeyCorp dropped their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.21.

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.