Summit Place Financial Advisors LLC Sells 2,091 Shares of Corteva, Inc. $CTVA

Summit Place Financial Advisors LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,033 shares of the company’s stock after selling 2,091 shares during the period. Corteva comprises 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 25th biggest holding. Summit Place Financial Advisors LLC’s holdings in Corteva were worth $3,356,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Moody National Bank Trust Division grew 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 buying an additional 143 shares during the last quarter. Ancora Advisors LLC grew 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 buying an additional 150 shares during the last quarter. NewEdge Advisors LLC grew 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 buying an additional 152 shares during the last quarter. Plancorp LLC grew 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 buying an additional 158 shares during the last quarter. Finally, Legacy Financial Advisors Inc. grew 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 buying an additional 160 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CTVA. Wells Fargo & Company reaffirmed an “overweight” rating and set a $83.00 price objective (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Corteva in a research report on Monday, August 11th. Weiss Ratings lowered shares of Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Finally, Morgan Stanley set a $84.00 target price on shares of Corteva in a research report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.13.

Insider Activity

In other 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 completion of the sale, the executive vice president 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Corteva Trading Down 1.4%

Shares of NYSE CTVA opened at $61.90 on Friday. The company’s 50 day simple moving average is $70.38 and its 200 day simple moving average is $68.91. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The firm has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping 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 net margin of 8.16% and a return on equity of 8.68%. The business’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.83 earnings per share. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva’s payout ratio is currently 35.12%.

Corteva 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.