Corteva, Inc. (NYSE:CTVA) Shares Purchased by Albion Financial Group UT

Albion Financial Group UT grew its position in Corteva, Inc. (NYSE:CTVA) by 77.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 505 shares of the company’s stock after buying an additional 220 shares during the period. Albion Financial Group UT’s holdings in Corteva were worth $29,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. raised its position in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Capital International Investors lifted its position in Corteva by 47.2% in the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after buying an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after acquiring an additional 2,141,428 shares during the period. Northern Trust Corp lifted its holdings in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after acquiring an additional 310,012 shares during the last quarter. Finally, Harris Associates L P boosted its position in shares of Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock worth $431,841,000 after purchasing an additional 4,194,981 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.5 %

Shares of Corteva stock opened at $52.48 on Thursday. The company’s fifty day moving average is $54.68 and its two-hundred day moving average is $52.92. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The company has a market capitalization of $36.58 billion, a P/E ratio of 66.43, a PEG ratio of 1.41 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company posted $1.16 earnings per share. The business’s revenue was down 8.0% on a year-over-year basis. Analysts forecast that Corteva, Inc. will post 2.8 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a $0.16 dividend. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.22%. Corteva’s dividend payout ratio (DPR) is 81.01%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTVA shares. OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. Wells Fargo & Company lifted their price objective on shares of Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Royal Bank of Canada increased their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. KeyCorp increased their price objective on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Barclays boosted their target price on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.00.

Insider Buying and Selling at Corteva

In other news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total value 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 document filed with the SEC, which is available at this link. Also, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The stock was 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 $3,104,144.56. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.20% of the stock is owned by company insiders.

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.