Snider Financial Group Has $1.30 Million Stock Position in Corteva, Inc. $CTVA

Snider Financial Group raised its position in Corteva, Inc. (NYSE:CTVA) by 5.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,477 shares of the company’s stock after purchasing an additional 890 shares during the quarter. Snider Financial Group’s holdings in Corteva were worth $1,303,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Vanguard Group Inc. grew its stake in shares of Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares in the last quarter. Independent Franchise Partners LLP raised its position in Corteva by 1.8% during the first quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after acquiring an additional 288,792 shares in the last quarter. Northern Trust Corp lifted its stake in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after acquiring an additional 110,865 shares during the last quarter. Nuveen LLC bought a new stake in Corteva in the first quarter worth approximately $640,333,000. Finally, WCM Investment Management LLC increased its stake in shares of Corteva by 29.6% during the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after purchasing an additional 2,066,519 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CTVA shares. Citigroup cut shares of Corteva from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $83.00 to $70.00 in a report on Thursday, October 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Wells Fargo & Company cut their price objective on Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, BMO Capital Markets set a $86.00 target price on Corteva in a research report on Monday, September 15th. Fifteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.65.

Corteva Stock Down 0.3%

Shares of CTVA opened at $61.51 on Monday. 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 50-day moving average price of $67.53 and a two-hundred day moving average price of $69.40. The stock has a market cap of $41.77 billion, a price-to-earnings ratio of 30.00, a P/E/G ratio of 1.40 and a beta of 0.76. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 1st. 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.