Corteva, Inc. $CTVA Stake Lessened by Keybank National Association OH

Keybank National Association OH lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 4.0% in the second quarter, Holdings Channel.com reports. The firm owned 62,973 shares of the company’s stock after selling 2,647 shares during the period. Keybank National Association OH’s holdings in Corteva were worth $4,693,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Premier Path Wealth Partners LLC lifted its holdings in shares of Corteva by 6.1% in the second quarter. Premier Path Wealth Partners LLC now owns 10,491 shares of the company’s stock valued at $782,000 after purchasing an additional 600 shares in the last quarter. Hantz Financial Services Inc. lifted its holdings in shares of Corteva by 5.7% in the second quarter. Hantz Financial Services Inc. now owns 44,786 shares of the company’s stock valued at $3,338,000 after purchasing an additional 2,429 shares in the last quarter. Arkadios Wealth Advisors lifted its holdings in shares of Corteva by 31.4% in the second quarter. Arkadios Wealth Advisors now owns 13,162 shares of the company’s stock valued at $981,000 after purchasing an additional 3,148 shares in the last quarter. World Investment Advisors lifted its holdings in shares of Corteva by 21.8% in the second quarter. World Investment Advisors now owns 8,994 shares of the company’s stock valued at $670,000 after purchasing an additional 1,608 shares in the last quarter. Finally, Whalen Wealth Management Inc. purchased a new stake in shares of Corteva in the second quarter valued at $256,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.3%

NYSE CTVA opened at $61.51 on Friday. 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 capitalization of $41.77 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The firm’s fifty day simple moving average is $67.53 and its 200-day simple moving average is $69.26.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion for 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 business’s quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio is presently 35.12%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTVA. Citigroup lowered Corteva from a “buy” rating to a “neutral” rating and reduced their target price for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Mizuho dropped their price target on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 8th. UBS Group dropped their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday. Weiss Ratings downgraded shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. Finally, Oppenheimer dropped their price target on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $79.69.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction 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 transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.14% of the stock is owned by 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.