Golden State Equity Partners Acquires New Shares in Corteva, Inc. $CTVA

Key Points

• Golden State Equity Partners acquired a new stake in Corteva, Inc., purchasing 3,743 shares valued at approximately $279,000 during the second quarter.
• Corteva recently reported a quarterly earnings per share (EPS) of $2.20, exceeding analysts' estimates of $1.89, with a revenue of $6.46 billion for the quarter, up 5.6% year-over-year.
• The company announced an increase in its quarterly dividend to $0.18 per share, resulting in an annualized dividend of $0.72 and a yield of 1.0%.

Golden State Equity Partners purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,743 shares of the company's stock, valued at approximately $279,000.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares in the last quarter. Vise Technologies Inc. acquired a new position in Corteva in the 4th quarter valued at approximately $238,000. Heck Capital Advisors LLC acquired a new stake in shares of Corteva during the 4th quarter valued at $55,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of Corteva during the fourth quarter worth $22,079,000. Finally, Menard Financial Group LLC acquired a new stake in Corteva during the fourth quarter valued at $106,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of NYSE CTVA opened at $69.48 on Wednesday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. 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 firm has a market cap of $47.18 billion, a price-to-earnings ratio of 33.89, a P/E/G ratio of 1.60 and a beta of 0.78. The stock's fifty day moving average price is $72.40 and its two-hundred day moving average price is $68.59.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS 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 last year, the company earned $1.83 EPS. The company's revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast 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. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Corteva's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva's dividend payout ratio (DPR) is presently 35.12%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on CTVA shares. Royal Bank Of Canada restated an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Oppenheimer set a $87.00 price objective on Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. BMO Capital Markets set a $86.00 price target on Corteva in a report on Monday, September 15th. Barclays raised Corteva from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Finally, Citigroup downgraded Corteva from a "neutral" rating to a "mixed" rating in a report on Friday, September 5th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Corteva presently has an average rating of "Moderate Buy" and an average price target of $82.00.

Insider Buying and Selling at Corteva

In related 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 value of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares of the company's stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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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