US Bancorp DE Has $19.74 Million Holdings in Corteva, Inc. $CTVA

Key Points

• US Bancorp DE increased its holdings in Corteva, Inc. by 2.9% during the second quarter, bringing its total investment to $19.74 million with 264,780 shares.
• Corteva recently declared a quarterly dividend increase from $0.17 to $0.18 per share, resulting in a 1.2% dividend yield.
• Analysts maintain a consensus rating of "Moderate Buy" for Corteva, with a target price averaging $80.13.

US Bancorp DE grew its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,780 shares of the company's stock after purchasing an additional 7,502 shares during the period. US Bancorp DE's holdings in Corteva were worth $19,735,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in CTVA. Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the 2nd quarter worth approximately $29,000. Valley National Advisers Inc. boosted its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after acquiring an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in shares of Corteva during the 1st quarter worth approximately $37,000. DHJJ Financial Advisors Ltd. boosted its position in shares of Corteva by 132.2% during the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company's stock worth $39,000 after acquiring an additional 300 shares in the last quarter. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Corteva during the 1st quarter worth approximately $44,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the 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 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 filing with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Corteva Price Performance

CTVA stock opened at $61.90 on Friday. The company has a fifty day moving average price of $70.38 and a 200-day moving average price of $68.91. The company has a market capitalization of $42.04 billion, a P/E ratio of 30.20, a PEG ratio of 1.42 and a beta of 0.76. Corteva, Inc. has a 52-week low of $53.40 and a 52-week 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.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company's revenue for the quarter was up 5.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.83 earnings per share. As a group, equities analysts expect 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 paid a dividend of $0.18 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.2%. Corteva's payout ratio is 35.12%.

Analyst Ratings Changes

Several research firms recently issued reports on CTVA. Morgan Stanley set a $84.00 price target on shares of Corteva in a research report on Monday, September 15th. Wall Street Zen upgraded shares of Corteva from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Mizuho dropped their price objective on shares of Corteva from $85.00 to $78.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Jefferies Financial Group dropped their price objective on shares of Corteva from $92.00 to $85.00 in a research note 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's stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $80.13.

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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