Savvy Advisors Inc. Has $612,000 Position in Corteva, Inc. $CTVA

Savvy Advisors Inc. increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,207 shares of the company’s stock after buying an additional 481 shares during the period. Savvy Advisors Inc.’s holdings in Corteva were worth $612,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in CTVA. Brighton Jones LLC lifted its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after buying an additional 11,760 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in Corteva by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,668 shares of the company’s stock worth $3,029,000 after buying an additional 1,602 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Corteva during the 1st quarter worth about $213,000. Teacher Retirement System of Texas lifted its position in Corteva by 224.3% during the 1st quarter. Teacher Retirement System of Texas now owns 132,421 shares of the company’s stock worth $8,333,000 after buying an additional 91,589 shares in the last quarter. Finally, Mutual Advisors LLC lifted its position in Corteva by 4.7% during the 1st quarter. Mutual Advisors LLC now owns 5,424 shares of the company’s stock worth $333,000 after buying an additional 242 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $61.51 on Friday. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The stock has a market cap of $41.77 billion, a PE ratio of 30.00, a price-to-earnings-growth ratio of 1.41 and a beta of 0.76. The stock has a 50-day moving average of $67.53 and a 200-day moving average of $69.26. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to analysts’ expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s revenue was up 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.83 EPS. As a group, sell-side analysts expect 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. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.2%. Corteva’s dividend payout ratio is 35.12%.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated 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 directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Barclays upgraded shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Weiss Ratings cut Corteva from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, October 8th. UBS Group dropped their price objective on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank Of Canada dropped their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Finally, Jefferies Financial Group dropped their price objective on Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $79.69.

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.