LVW Advisors LLC Purchases New Stake in Corteva, Inc. $CTVA

Key Points

• LVW Advisors LLC has acquired a new stake in Corteva, Inc., purchasing 9,000 shares valued at approximately $671,000 during the second quarter.
• Insider Robert D. King sold 37,280 shares at an average price of $74.20, resulting in a 43.08% decrease in his ownership of the company.
• Corteva has increased its quarterly dividend to $0.18 per share, reflecting a positive change from the previous dividend of $0.17 and a yield of 1.1%.

LVW Advisors LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 9,000 shares of the company's stock, valued at approximately $671,000.

A number of other hedge funds and other institutional investors have also modified their holdings of CTVA. Brighton Jones LLC raised its stake in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after acquiring an additional 11,760 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Corteva by 6.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 129,314 shares of the company's stock worth $7,366,000 after acquiring an additional 8,299 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Corteva by 139.4% during the first quarter. Versant Capital Management Inc now owns 3,509 shares of the company's stock worth $221,000 after buying an additional 2,043 shares during the period. Moody National Bank Trust Division boosted its position in Corteva by 11.1% during the first quarter. Moody National Bank Trust Division now owns 21,996 shares of the company's stock valued at $1,384,000 after purchasing an additional 2,190 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Corteva by 7,135.6% in the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company's stock valued at $59,644,000 after buying an additional 934,690 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred 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 completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

Corteva Stock Up 1.5%

CTVA stock opened at $68.06 on Friday. The firm has a market cap of $46.22 billion, a PE ratio of 33.20, a PEG ratio of 1.56 and a beta of 0.78. 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 quick ratio of 1.23 and a current ratio of 1.68. The firm's 50 day moving average price is $72.11 and its 200-day moving average price is $68.76.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The company 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 posted $1.83 earnings per share. The business's quarterly revenue was up 5.6% compared to the same quarter last year. On average, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current 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 paid a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. This is a positive change from Corteva's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, September 2nd. Corteva's dividend payout ratio (DPR) is currently 35.12%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. Oppenheimer set a $87.00 target price on Corteva and gave the company an "outperform" rating in a report on Tuesday, July 15th. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. KeyCorp raised their target price on Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, August 8th. Finally, Barclays upgraded shares of 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 research note on Wednesday, August 13th. Thirteen research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $82.00.

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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