Corteva, Inc. $CTVA Shares Acquired by SG Americas Securities LLC

SG Americas Securities LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1,711.2% during the second quarter, Holdings Channel.com reports. The fund owned 684,643 shares of the company’s stock after buying an additional 646,843 shares during the period. SG Americas Securities LLC’s holdings in Corteva were worth $51,026,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pinnbrook Capital Management LP acquired a new position in Corteva during the second quarter worth about $3,530,000. Meridian Wealth Management LLC purchased a new position in Corteva in the 2nd quarter worth approximately $205,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in shares of Corteva by 6.7% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 167,306 shares of the company’s stock worth $12,469,000 after purchasing an additional 10,528 shares during the last quarter. Foundations Investment Advisors LLC grew its position in shares of Corteva by 6.3% in the second quarter. Foundations Investment Advisors LLC now owns 5,165 shares of the company’s stock valued at $385,000 after purchasing an additional 305 shares in the last quarter. Finally, Banco Bilbao Vizcaya Argentaria S.A. increased its holdings in shares of Corteva by 312.4% in the second quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 86,812 shares of the company’s stock valued at $6,469,000 after purchasing an additional 65,760 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CTVA shares. The Goldman Sachs Group lowered their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. Rothschild & Co Redburn reduced their price target on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a report on Tuesday. Oppenheimer reissued an “outperform” rating and set a $76.00 price target on shares of Corteva in a research report on Friday, November 7th. Weiss Ratings restated a “hold (c)” rating on shares of Corteva in a research report on Thursday. Finally, BMO Capital Markets set a $86.00 target price on shares of Corteva in a research note on Monday, September 15th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $78.39.

Corteva Stock Performance

NYSE CTVA opened at $65.98 on Friday. The stock has a market cap of $44.58 billion, a PE ratio of 28.20, a P/E/G ratio of 1.50 and a beta of 0.81. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The stock has a fifty day simple moving average of $65.70 and a 200-day simple moving average of $69.55.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the previous year, the firm earned ($0.49) EPS. Corteva’s revenue was up 6.5% on a year-over-year basis. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s payout ratio is 30.77%.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred 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 transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.