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

Mill Capital Management LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,039 shares of the company’s stock after selling 368 shares during the period. Mill Capital Management LLC’s holdings in Corteva were worth $226,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Peak Financial Advisors LLC acquired a new position in shares of Corteva in the second quarter valued at approximately $505,000. Cary Street Partners Financial LLC grew its position in shares of Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after purchasing an additional 15,448 shares during the period. PGGM Investments increased its stake in Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock valued at $91,183,000 after purchasing an additional 497,200 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Corteva by 28.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after buying an additional 634,938 shares during the period. Finally, S.E.E.D. Planning Group LLC boosted its stake in 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 buying an additional 67,869 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research note on Monday, September 15th. Oppenheimer lowered their target price on shares of Corteva from $87.00 to $75.00 and set an “outperform” rating for the company in a report on Wednesday, October 22nd. JPMorgan Chase & Co. raised shares of Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Thursday, October 2nd. Weiss Ratings downgraded Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. Finally, The Goldman Sachs Group reduced their target price on Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a report on Wednesday, October 22nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.69.

Corteva Trading Down 0.3%

NYSE:CTVA opened at $61.51 on Friday. The company has a market cap of $41.77 billion, a PE ratio of 30.00, a P/E/G ratio of 1.41 and a beta of 0.76. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The business’s 50 day moving average is $67.53 and its two-hundred day moving average is $69.26. 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 posted its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the firm earned $1.83 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, December 1st. Corteva’s payout ratio is presently 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.