Peak Financial Advisors LLC Makes New $505,000 Investment in Corteva, Inc. $CTVA

Key Points

• Peak Financial Advisors LLC made a new investment in Corteva, Inc. totaling $505,000 for 6,775 shares, reflecting growing institutional interest in the company.
• Corteva’s stock price has seen a boost, with several analysts upgrading their ratings and raising target prices, including Wells Fargo and KeyCorp, indicating a general confidence in the company's future performance.
• The company recently announced an increase in its quarterly dividend from $0.17 to $0.18 per share, demonstrating commitment to returning value to shareholders.

Peak Financial Advisors LLC bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,775 shares of the company's stock, valued at approximately $505,000.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Pinney & Scofield Inc. acquired a new position in shares of Corteva in the fourth quarter valued at approximately $27,000. Valley National Advisers Inc. grew its position in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC acquired a new position in shares of Corteva in the first quarter valued at approximately $37,000. von Borstel & Associates Inc. acquired a new position in shares of Corteva in the first quarter valued at approximately $44,000. Finally, Horizon Financial Services LLC grew its position in shares of Corteva by 4,444.4% in the first quarter. Horizon Financial Services LLC now owns 818 shares of the company's stock valued at $51,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $83.00 target price (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. KeyCorp boosted their price target on Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a research note on Friday, August 8th. UBS Group boosted their price target on Corteva from $90.00 to $91.00 and gave the company a "buy" rating in a research note on Thursday, August 7th. Barclays upgraded 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, BMO Capital Markets boosted their price target on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Corteva Stock Up 2.8%

NYSE CTVA opened at $75.07 on Friday. The business has a fifty day moving average price of $73.03 and a two-hundred day moving average price of $68.15. 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, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The stock has a market capitalization of $50.98 billion, a PE ratio of 36.62, a PEG ratio of 1.67 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share 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 firm had revenue of $6.46 billion during the quarter, compared to analysts' expectations of $6.26 billion. During the same period in the prior year, the company earned $1.83 earnings per share. The company's quarterly revenue was up 5.6% on a year-over-year basis. Equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.18 per share. The ex-dividend date is Tuesday, September 2nd. This is a boost 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 is currently 35.12%.

Insiders Place Their Bets

In other Corteva 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 completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is owned by 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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