Sanctuary Advisors LLC Acquires New Position in Corteva, Inc. (NYSE:CTVA)

Sanctuary Advisors LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 84,462 shares of the company’s stock, valued at approximately $4,639,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva in the 1st quarter valued at $25,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Albion Financial Group UT raised its holdings in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. lifted its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after purchasing an additional 280 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the topic of several analyst reports. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a report on Wednesday, June 12th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $61.94.

Corteva Price Performance

Shares of Corteva stock opened at $58.33 on Friday. The stock has a market capitalization of $40.65 billion, a P/E ratio of 73.84, a PEG ratio of 1.68 and a beta of 0.77. The business has a 50 day simple moving average of $55.39 and a two-hundred day simple moving average of $55.00. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

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

Corteva Increases Dividend

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

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.