Community Bank of Raymore Boosts Stake in Corteva, Inc. $CTVA

Community Bank of Raymore raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,256 shares of the company’s stock after buying an additional 730 shares during the quarter. Community Bank of Raymore’s holdings in Corteva were worth $541,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division lifted its stake in Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock worth $1,650,000 after purchasing an additional 143 shares during the last quarter. Ancora Advisors LLC lifted its stake in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Corteva by 0.5% during the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after purchasing an additional 152 shares during the last quarter. Plancorp LLC lifted its stake in Corteva by 2.3% during the first quarter. Plancorp LLC now owns 7,156 shares of the company’s stock worth $450,000 after purchasing an additional 158 shares during the last quarter. Finally, Legacy Financial Advisors Inc. lifted its stake in Corteva by 4.4% during the first quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company’s stock worth $237,000 after purchasing an additional 160 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.7%

NYSE CTVA opened at $61.45 on Monday. The stock has a market cap of $41.73 billion, a P/E ratio of 29.98, a price-to-earnings-growth ratio of 1.40 and a beta of 0.76. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a 50 day simple moving average of $69.44 and a two-hundred day simple moving average of $68.97. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last announced 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. The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio is currently 35.12%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Royal Bank Of Canada dropped their price target on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research note on Friday. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target for the company in a research note on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $83.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 15th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Finally, Citigroup lowered Corteva from a “buy” rating to a “neutral” rating and lowered their target price for the company from $83.00 to $70.00 in a research note on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold 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 target price of $80.31.

Insider Activity 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 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 owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

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.