Corteva, Inc. $CTVA Holdings Lifted by Callan Family Office LLC

Key Points

• Callan Family Office LLC increased its stake in Corteva, Inc. by 222.6% during Q2, owning 20,438 shares worth $1.52 million after purchasing an additional 14,102 shares.
• Corteva declared a quarterly dividend of $0.18, up from $0.17, representing a 1.2% yield and a dividend payout ratio of 35.12%.
• The company reported a Q2 EPS of $2.20, surpassing estimates of $1.89, with a year-over-year revenue growth of 5.6% to $6.46 billion.

Callan Family Office LLC lifted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 222.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,438 shares of the company's stock after purchasing an additional 14,102 shares during the quarter. Callan Family Office LLC's holdings in Corteva were worth $1,523,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Mainstay Capital Management LLC ADV acquired a new position in shares of Corteva in the 2nd quarter valued at $256,000. Leo Wealth LLC boosted its position in shares of Corteva by 14.8% in the 2nd quarter. Leo Wealth LLC now owns 8,068 shares of the company's stock valued at $601,000 after purchasing an additional 1,039 shares during the period. US Bancorp DE boosted its position in shares of Corteva by 2.9% in the 2nd quarter. US Bancorp DE now owns 264,780 shares of the company's stock valued at $19,735,000 after purchasing an additional 7,502 shares during the period. Armstrong Fleming & Moore Inc acquired a new position in shares of Corteva in the 2nd quarter valued at $201,000. Finally, Maryland State Retirement & Pension System boosted its position in shares of Corteva by 1.7% in the 2nd quarter. Maryland State Retirement & Pension System now owns 33,251 shares of the company's stock valued at $2,478,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Down 1.4%

Shares of CTVA stock opened at $61.90 on Friday. The stock's 50 day simple moving average is $70.38 and its 200 day simple moving average is $68.95. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a market capitalization of $42.04 billion, a price-to-earnings ratio of 30.20, a PEG ratio of 1.40 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company's revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 EPS. As a group, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Zacks Research upgraded Corteva from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 1st. Royal Bank Of Canada restated an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Deutsche Bank Aktiengesellschaft raised their price objective on Corteva from $83.00 to $90.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. Wells Fargo & Company restated an "overweight" rating and set a $83.00 price objective (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Finally, Weiss Ratings lowered Corteva from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $80.13.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of Corteva stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is currently owned by corporate insiders.

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.

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.