Exchange Capital Management Inc. Has $3.42 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Exchange Capital Management Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 11.3% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,284 shares of the company’s stock after purchasing an additional 6,015 shares during the quarter. Exchange Capital Management Inc.’s holdings in Corteva were worth $3,419,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. CVA Family Office LLC acquired a new position in Corteva in the fourth quarter valued at about $25,000. BKM Wealth Management LLC acquired a new position in Corteva in the 4th quarter valued at $27,000. Rise Advisors LLC raised its holdings in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Corteva during the 4th quarter worth $28,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 0.5 %

Shares of NYSE CTVA traded down $0.24 during mid-day trading on Tuesday, hitting $52.83. 663,531 shares of the company traded hands, compared to its average volume of 3,558,836. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The stock has a market capitalization of $36.82 billion, a price-to-earnings ratio of 67.16, a PEG ratio of 1.44 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The business has a 50 day moving average of $54.77 and a two-hundred day moving average of $52.83.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The business had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period last year, the business earned $1.16 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.8 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.21%. The ex-dividend date was Tuesday, June 4th. Corteva’s dividend payout ratio is presently 81.01%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on CTVA. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. KeyCorp boosted their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. BMO Capital Markets raised their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Mizuho dropped their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $63.00.

Insider Activity

In other Corteva news, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the sale, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Cornel B. Fuerer sold 39,736 shares of the stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. Company insiders own 0.20% of the company’s stock.

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.