Anchor Capital Advisors LLC Sells 28,518 Shares of Corteva, Inc. $CTVA

Anchor Capital Advisors LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 4.0% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 685,217 shares of the company’s stock after selling 28,518 shares during the quarter. Corteva accounts for approximately 1.5% of Anchor Capital Advisors LLC’s portfolio, making the stock its 15th largest position. Anchor Capital Advisors LLC owned approximately 0.10% of Corteva worth $51,069,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Peak Financial Advisors LLC bought a new stake in Corteva during the 2nd quarter valued at $505,000. Cary Street Partners Financial LLC grew its stake in shares of Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares in the last quarter. PGGM Investments grew its stake in shares of Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on CTVA. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. 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 note on Wednesday, August 13th. UBS Group reduced their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Wolfe Research reduced their target price on shares of Corteva from $80.00 to $79.00 and set an “outperform” rating for the company in a research note on Monday, October 27th. Finally, Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Saturday, October 18th. Fifteen equities research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $79.65.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Corteva Price Performance

CTVA opened at $63.66 on Thursday. The firm has a market cap of $43.23 billion, a P/E ratio of 27.21, a PEG ratio of 1.43 and a beta of 0.81. The firm has a 50-day moving average of $66.84 and a 200 day moving average of $69.40. 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, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.42%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.49) earnings per share. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s dividend payout ratio is 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.