Atticus Wealth Management LLC Raises Stock Position in Corteva, Inc. $CTVA

Atticus Wealth Management LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,385 shares of the company’s stock after purchasing an additional 219 shares during the period. Atticus Wealth Management LLC’s holdings in Corteva were worth $178,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the business. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Corteva by 1.6% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 84,608 shares of the company’s stock worth $6,306,000 after purchasing an additional 1,366 shares during the last quarter. Focus Financial Network Inc. boosted its holdings in Corteva by 8.2% during the second quarter. Focus Financial Network Inc. now owns 5,112 shares of the company’s stock worth $381,000 after buying an additional 386 shares in the last quarter. Radnor Capital Management LLC boosted its holdings in Corteva by 2.6% during the second quarter. Radnor Capital Management LLC now owns 26,495 shares of the company’s stock worth $1,975,000 after buying an additional 675 shares in the last quarter. Chesley Taft & Associates LLC boosted its holdings in Corteva by 6.3% during the second quarter. Chesley Taft & Associates LLC now owns 35,540 shares of the company’s stock worth $2,649,000 after buying an additional 2,100 shares in the last quarter. Finally, Baron Wealth Management LLC boosted its holdings in Corteva by 15.3% during the second quarter. Baron Wealth Management LLC now owns 5,224 shares of the company’s stock worth $389,000 after buying an additional 693 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. BMO Capital Markets set a $86.00 price target on shares of Corteva in a report on Monday. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a report on Friday, June 6th. Wells Fargo & Company reissued an “overweight” rating and issued a $83.00 price target (up previously from $82.00) on shares of Corteva in a report on Friday, August 8th. UBS Group boosted their price target on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a report on Thursday, August 7th. Finally, KeyCorp boosted their price target on shares of Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, August 8th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.00.

Corteva Price Performance

NYSE:CTVA opened at $70.70 on Friday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $48.01 billion, a P/E ratio of 34.49, a P/E/G ratio of 1.62 and a beta of 0.78. The stock’s fifty day moving average is $72.57 and its two-hundred day moving average is $68.34.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter in the previous year, the business earned $1.83 earnings per share. The company’s revenue for the quarter was up 5.6% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were given a $0.18 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

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.