Vontobel Holding Ltd. Sells 7,551 Shares of Corteva, Inc. $CTVA

Vontobel Holding Ltd. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 121,946 shares of the company’s stock after selling 7,551 shares during the period. Vontobel Holding Ltd.’s holdings in Corteva were worth $9,089,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Maryland State Retirement & Pension System boosted its holdings in shares of Corteva by 1.7% during the 2nd quarter. Maryland State Retirement & Pension System now owns 33,251 shares of the company’s stock worth $2,478,000 after buying an additional 552 shares during the period. Proffitt & Goodson Inc. boosted its holdings in shares of Corteva by 3.7% during the 2nd quarter. Proffitt & Goodson Inc. now owns 8,163 shares of the company’s stock worth $608,000 after buying an additional 294 shares during the period. Shell Asset Management Co. boosted its holdings in shares of Corteva by 93.3% during the 2nd quarter. Shell Asset Management Co. now owns 22,600 shares of the company’s stock worth $1,684,000 after buying an additional 10,908 shares during the period. Joel Isaacson & Co. LLC bought a new stake in shares of Corteva during the 2nd quarter worth about $228,000. Finally, KLP Kapitalforvaltning AS boosted its holdings in Corteva by 6.2% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 251,676 shares of the company’s stock valued at $18,757,000 after purchasing an additional 14,600 shares during the period. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTVA. Citigroup downgraded shares of Corteva from a “buy” rating to a “neutral” rating and cut their price objective for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Zacks Research raised shares of Corteva from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 1st. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. UBS Group cut their price objective on shares of Corteva from $91.00 to $85.00 and set a “buy” rating for the company in a report on Monday. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 15th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $80.13.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction that occurred on Friday, August 29th. The shares were 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 represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Corteva Stock Performance

Shares of Corteva stock opened at $62.76 on Friday. The company has a 50 day moving average of $70.57 and a 200-day moving average of $68.91. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.62 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 1.43 and a beta of 0.76.

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

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. The ex-dividend date was Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. This is a positive change from Corteva’s previous quarterly dividend of $0.17. Corteva’s dividend payout ratio is currently 35.12%.

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.