Corteva, Inc. $CTVA Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC reduced its stake in Corteva, Inc. (NYSE:CTVA) by 8.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,301 shares of the company’s stock after selling 1,564 shares during the period. Jacobi Capital Management LLC’s holdings in Corteva were worth $1,026,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Pinney & Scofield Inc. acquired a new stake in Corteva during the fourth quarter valued at approximately $27,000. Valley National Advisers Inc. lifted its stake in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva during the first quarter valued at approximately $37,000. von Borstel & Associates Inc. acquired a new stake in shares of Corteva during the first quarter valued at approximately $44,000. Finally, Horizon Financial Services LLC raised its holdings in shares of Corteva by 4,444.4% during the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock valued at $51,000 after acquiring an additional 800 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corteva

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 transaction, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on CTVA shares. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a report on Saturday, August 9th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. UBS Group upped their price objective on shares of Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Finally, Wells Fargo & Company reiterated an “overweight” rating and issued a $83.00 price objective (up previously from $82.00) on shares of Corteva in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Corteva Stock Performance

Shares of CTVA opened at $73.04 on Friday. The company’s fifty day moving average is $73.07 and its 200-day moving average is $68.03. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The firm has a market cap of $49.60 billion, a price-to-earnings ratio of 35.63, a price-to-earnings-growth ratio of 1.64 and a beta of 0.78. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. This is a positive change from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is currently 35.12%.

Corteva Company 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.