Sequoia Financial Advisors LLC Boosts Holdings in Corteva, Inc. $CTVA

Key Points

• Sequoia Financial Advisors LLC increased its stake in Corteva, Inc. by 56.6% in Q2, holding nearly 25,000 shares valued at approximately $1.86 million.
• Corteva recently reported earnings of $2.20 per share, surpassing analyst expectations, with a total revenue of $6.46 billion for the quarter.
• The company raised its quarterly dividend from $0.17 to $0.18 per share, indicating a 1.2% yield and a payout ratio of 35.12%.

Sequoia Financial Advisors LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 56.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,966 shares of the company's stock after acquiring an additional 9,026 shares during the period. Sequoia Financial Advisors LLC's holdings in Corteva were worth $1,861,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of CTVA. Brighton Jones LLC lifted its position in Corteva by 307.2% during the fourth 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 during the last quarter. Farther Finance Advisors LLC lifted its position in Corteva by 13.9% during the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock valued at $279,000 after acquiring an additional 536 shares during the last quarter. GAMMA Investing LLC lifted its position in Corteva by 15.0% during the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company's stock valued at $948,000 after acquiring an additional 1,962 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Corteva by 5.3% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 136,128 shares of the company's stock valued at $8,567,000 after acquiring an additional 6,814 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in Corteva by 26.1% during the first quarter. Exchange Traded Concepts LLC now owns 2,758 shares of the company's stock valued at $174,000 after acquiring an additional 570 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTVA. Oppenheimer set a $87.00 target price on shares of Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and boosted their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Argus dropped their price objective on shares of Corteva from $83.00 to $80.00 and set a "buy" rating on the stock in a report on Monday. Weiss Ratings lowered shares of Corteva from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. raised shares of Corteva from a "neutral" rating to an "overweight" rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $80.63.

Corteva Stock Down 1.1%

NYSE:CTVA opened at $61.20 on Friday. The firm has a market capitalization of $41.56 billion, a P/E ratio of 29.85, a PEG ratio of 1.42 and a beta of 0.76. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company's fifty day moving average price is $69.63 and its 200-day moving average price is $68.90. 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 (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business's quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.83 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were given a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.2%. The ex-dividend date was Tuesday, September 2nd. Corteva's dividend payout ratio (DPR) is 35.12%.

Insider Buying and Selling

In related news, EVP Robert D. King sold 37,280 shares of the firm's stock in a transaction on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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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