Arete Wealth Advisors LLC Makes New $783,000 Investment in Corteva, Inc. $CTVA

Key Points

• Arete Wealth Advisors LLC has acquired a new position in Corteva, purchasing 12,446 shares valued at about $783,000 during the first quarter.
• Corteva announced a quarterly dividend increase from $0.17 to $0.18 per share, which will be paid on September 15th, yielding 1.0% annually.
• The company's stock recently had a price-to-earnings ratio of 35.35, with a market cap of $49.21 billion and a one-year stock price range between $53.40 and $77.41.

Arete Wealth Advisors LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 12,446 shares of the company's stock, valued at approximately $783,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pinney & Scofield Inc. acquired a new stake in Corteva in the 4th quarter valued at approximately $27,000. Valley National Advisers Inc. boosted its stake in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after acquiring an additional 243 shares in the last quarter. Richardson Capital Management LLC bought a new stake in shares of Corteva during the 1st quarter worth $37,000. von Borstel & Associates Inc. bought a new stake in shares of Corteva during the 1st quarter worth $44,000. Finally, Horizon Financial Services LLC boosted its stake in shares of Corteva by 4,444.4% during the 1st quarter. Horizon Financial Services LLC now owns 818 shares of the company's stock worth $51,000 after acquiring an additional 800 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction 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 sale, the executive vice president owned 49,262 shares of the company's stock, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research analyst reports. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. UBS Group lifted their price objective on Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research report on Thursday, August 7th. Barclays raised Corteva from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. BMO Capital Markets raised their target price on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Citigroup downgraded Corteva from a "neutral" rating to a "mixed" rating in a research report on Friday, September 5th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.25.

Corteva Trading Up 2.8%

Shares of CTVA traded up $2.08 during trading hours on Friday, reaching $75.07. The stock had a trading volume of 6,598,066 shares, compared to its average volume of 3,369,057. 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. The firm has a 50-day moving average of $73.03 and a 200 day moving average of $68.11. The company has a market cap of $50.98 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.67 and a beta of 0.78.

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

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva's payout ratio is 35.12%.

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.