Kingswood Wealth Advisors LLC Sells 5,351 Shares of Corteva, Inc. (NYSE:CTVA)

Kingswood Wealth Advisors LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 49.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,467 shares of the company’s stock after selling 5,351 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Corteva were worth $315,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $25,000. BKM Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $27,000. Rise Advisors LLC increased its position in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $28,000. Finally, Scarborough Advisors LLC purchased a new stake in shares of Corteva during the 4th quarter valued at $29,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Brian Titus sold 12,134 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the completion of the transaction, the insider now owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of Corteva stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares in the company, valued at approximately $3,104,144.56. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 in the last quarter. Company insiders own 0.14% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. KeyCorp lifted their price objective on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. Royal Bank of Canada lifted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Finally, Barclays lifted their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. One equities 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. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Price Performance

Shares of NYSE:CTVA opened at $53.94 on Friday. 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 stock has a market cap of $37.60 billion, a PE ratio of 68.28, a PEG ratio of 1.43 and a beta of 0.78. The company’s fifty day moving average is $54.77 and its 200 day moving average is $52.73. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.76.

Corteva (NYSE:CTVA) last released its earnings results 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 company had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the company posted $1.16 EPS. Corteva’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts anticipate that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were issued a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio is currently 81.01%.

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.