Focus Partners Wealth Acquires 6,517 Shares of Corteva, Inc. $CTVA

Key Points

• Focus Partners Wealth increased its holdings in Corteva, Inc. by 10.8% in Q1, acquiring an additional 6,517 shares, bringing their total to 66,970 shares worth approximately $4.18 million.
• Corteva recently reported an EPS of $2.20 for the last quarter, exceeding estimates and showing a year-over-year revenue increase of 5.6% to $6.46 billion.
• The company announced a quarterly dividend increase to $0.18 per share, representing a dividend yield of 1.0% and a payout ratio of 35.12%.

Focus Partners Wealth boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 10.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,970 shares of the company's stock after purchasing an additional 6,517 shares during the period. Focus Partners Wealth's holdings in Corteva were worth $4,176,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Ancora Advisors LLC lifted its stake in Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company's stock worth $1,168,000 after purchasing an additional 150 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Corteva by 0.5% in the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company's stock valued at $1,979,000 after acquiring an additional 152 shares during the last quarter. Plancorp LLC lifted its stake 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 acquiring an additional 158 shares during the last quarter. Legacy Financial Advisors Inc. lifted its stake 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 acquiring an additional 160 shares during the last quarter. Finally, One Wealth Capital Management LLC lifted its stake in shares of Corteva by 3.4% in the 1st quarter. One Wealth Capital Management LLC now owns 4,835 shares of the company's stock valued at $304,000 after acquiring an additional 161 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of Corteva stock opened at $75.07 on Monday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $73.03 and a two-hundred day moving average price of $68.19. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a market cap of $50.98 billion, a P/E ratio of 36.62, a PEG ratio of 1.70 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion during 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 firm's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the business posted $1.83 EPS. As a group, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

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

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Barclays raised Corteva from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $75.00 to $84.00 in a research report on Wednesday, August 13th. Zacks Research raised Corteva to a "hold" rating in a research report on Friday, August 8th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $83.00 target price (up from $82.00) on shares of Corteva in a research report on Friday, August 8th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $80.25.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction dated 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 sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Corteva Company Profile

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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