Corteva, Inc. $CTVA Shares Acquired by Cwm LLC

Key Points

• Cwm LLC increased its holdings in Corteva, Inc. (NYSE:CTVA) by 47.1%, now owning 53,635 shares valued at $3,997,000.
• Corteva reported $2.20 earnings per share for the last quarter, surpassing the analysts' expectations of $1.89, with revenue increasing by 5.6% year-over-year.
• The company recently raised its quarterly dividend from $0.17 to $0.18 per share, representing an annual yield of 1.2%.

Cwm LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 47.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 53,635 shares of the company's stock after acquiring an additional 17,176 shares during the period. Cwm LLC's holdings in Corteva were worth $3,997,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company's stock valued at $5,022,736,000 after acquiring an additional 639,799 shares during the period. Independent Franchise Partners LLP increased its holdings in shares of Corteva by 1.8% in the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company's stock valued at $1,056,299,000 after acquiring an additional 288,792 shares during the period. Northern Trust Corp increased its holdings in shares of Corteva by 1.0% in the 1st quarter. Northern Trust Corp now owns 11,759,755 shares of the company's stock valued at $740,041,000 after acquiring an additional 110,865 shares during the period. Nuveen LLC acquired a new position in shares of Corteva in the 1st quarter valued at $640,333,000. Finally, WCM Investment Management LLC increased its holdings in shares of Corteva by 1.4% in the 1st quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company's stock valued at $426,088,000 after acquiring an additional 98,770 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.1%

Shares of CTVA stock opened at $61.20 on Friday. The business's fifty day moving average price is $69.63 and its 200 day moving average price is $68.90. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The firm has a market capitalization of $41.56 billion, a PE ratio of 29.85, a P/E/G ratio of 1.42 and a beta of 0.76. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23.

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, topping analysts' consensus estimates of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. Corteva's quarterly revenue was up 5.6% on a year-over-year basis. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva's dividend payout ratio is currently 35.12%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Wells Fargo & Company cut their target price on shares of Corteva from $83.00 to $80.00 and set an "overweight" rating on the stock in a report on Thursday. Royal Bank Of Canada reissued an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Citigroup lowered Corteva from a "buy" rating to a "neutral" rating and dropped their target price for the company from $83.00 to $70.00 in a report on Thursday, October 2nd. Barclays raised Corteva from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, Mizuho dropped their target price on Corteva from $85.00 to $78.00 and set an "outperform" rating on the stock in a report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and a consensus target price of $80.63.

Insiders Place Their Bets

In related news, EVP Robert D. King sold 37,280 shares of the company's stock in a transaction on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company's stock, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.14% of the stock is 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.

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