8,369 Shares in Corteva, Inc. $CTVA Bought by Arista Wealth Management LLC

Key Points

• Arista Wealth Management LLC purchased 8,369 shares of Corteva, Inc. for approximately $624,000, marking a new position in the company's stock.
• Corteva recently increased its quarterly dividend from $0.17 to $0.18 per share, representing an annualized yield of 1.2%.
• Despite recent performance, Corteva's stock is currently down 1.1%, with a 52-week range between $53.40 and $77.41.

Arista Wealth Management LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,369 shares of the company's stock, valued at approximately $624,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Moody National Bank Trust Division increased its position in Corteva by 0.7% during the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company's stock valued at $1,650,000 after purchasing an additional 143 shares during the period. Ancora Advisors LLC increased its position in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company's stock valued at $1,168,000 after purchasing an additional 150 shares during the period. NewEdge Advisors LLC increased its position in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company's stock valued at $1,979,000 after purchasing an additional 152 shares during the period. Plancorp LLC boosted its holdings in shares of Corteva by 2.3% in the 1st quarter. Plancorp LLC now owns 7,156 shares of the company's stock valued at $450,000 after buying an additional 158 shares in the last quarter. Finally, Legacy Financial Advisors Inc. boosted its holdings in shares of Corteva by 4.4% in the 1st quarter. Legacy Financial Advisors Inc. now owns 3,761 shares of the company's stock valued at $237,000 after buying an additional 160 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Stock Down 1.1%

CTVA stock opened at $61.20 on Friday. The firm has a 50 day moving average of $69.63 and a 200 day moving average of $68.90. The stock has a market capitalization of $41.56 billion, a PE ratio of 29.85, a price-to-earnings-growth ratio of 1.42 and a beta of 0.76. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the previous year, the business posted $1.83 EPS. The business's quarterly revenue was up 5.6% compared to the same quarter last year. Sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd were paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio (DPR) is presently 35.12%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on CTVA. Citigroup cut shares of Corteva from a "buy" rating to a "neutral" rating and lowered their price target for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. UBS Group lowered their price target on shares of Corteva from $91.00 to $85.00 and set a "buy" rating on the stock in a report on Monday, October 6th. Barclays upgraded shares of Corteva from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Morgan Stanley set a $84.00 price target on shares of Corteva in a report on Monday, September 15th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Corteva from $83.00 to $90.00 and gave the company a "buy" rating in a report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average target price of $80.63.

Insider Buying and Selling

In other news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the completion of the transaction, the executive vice president directly owned 49,262 shares of the company's stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company's stock.

About Corteva

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.

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