CreativeOne Wealth LLC Cuts Position in Corteva, Inc. $CTVA

Key Points

• CreativeOne Wealth LLC significantly reduced its stake in Corteva, Inc. by 86.3%, selling 44,176 shares and holding only 6,994 shares valued at $440,000 after the sale.
• Despite this cut, large investors like Valley National Advisers and Horizon Financial Services have increased their positions in Corteva, indicating ongoing institutional interest.
• Corteva announced a quarterly dividend increase to $0.18 per share, showing a commitment to returning value to shareholders amid strong earnings performance.

CreativeOne Wealth LLC lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 86.3% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,994 shares of the company's stock after selling 44,176 shares during the period. CreativeOne Wealth LLC's holdings in Corteva were worth $440,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. Pinney & Scofield Inc. acquired a new stake in shares of Corteva during the 4th quarter worth about $27,000. Valley National Advisers Inc. raised its position 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 acquired a new stake in shares of Corteva during the 1st quarter worth about $37,000. von Borstel & Associates Inc. acquired a new stake in shares of Corteva during the 1st quarter worth about $44,000. Finally, Horizon Financial Services LLC increased its position in Corteva by 4,444.4% during the first quarter. Horizon Financial Services LLC now owns 818 shares of the company's stock worth $51,000 after buying an additional 800 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Corteva in a research report on Monday, August 11th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $83.00 price target (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. Oppenheimer set a $87.00 price target on Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Finally, Wall Street Zen raised Corteva from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.25.

Corteva Stock Performance

Shares of NYSE:CTVA traded down $0.41 during trading on Friday, reaching $72.24. The company had a trading volume of 3,173,079 shares, compared to its average volume of 3,770,626. The firm has a market capitalization of $49.06 billion, a price-to-earnings ratio of 35.24, a price-to-earnings-growth ratio of 1.65 and a beta of 0.78. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The stock's fifty day moving average price is $73.34 and its 200 day moving average price is $67.80. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.83 earnings per share. As a group, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the stock in a transaction 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 completion of the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.