B. Riley Wealth Advisors Inc. Sells 1,671 Shares of Corteva, Inc. (NYSE:CTVA)

B. Riley Wealth Advisors Inc. reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 11.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,454 shares of the company’s stock after selling 1,671 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in Corteva were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTVA. William B. Walkup & Associates Inc. bought a new position in shares of Corteva in the 2nd quarter valued at approximately $244,000. NewEdge Advisors LLC raised its position in shares of Corteva by 8.0% in the second quarter. NewEdge Advisors LLC now owns 29,684 shares of the company’s stock valued at $1,601,000 after purchasing an additional 2,195 shares during the period. Creative Planning lifted its stake in shares of Corteva by 5.1% in the second quarter. Creative Planning now owns 137,558 shares of the company’s stock worth $7,420,000 after buying an additional 6,705 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Corteva during the 2nd quarter worth $30,901,000. Finally, Legal & General Group Plc grew its stake in Corteva by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after buying an additional 61,127 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on CTVA shares. Mizuho decreased their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. KeyCorp dropped their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, OTR Global reiterated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Stock Up 0.4 %

Shares of NYSE:CTVA opened at $58.34 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average price is $55.39 and its two-hundred day moving average price is $55.00. The firm has a market cap of $40.66 billion, a P/E ratio of 73.85, a P/E/G ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate of $1.74 by $0.09. The firm had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Corteva’s revenue was up 1.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 EPS. As a group, research analysts forecast that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

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.