Vontobel Holding Ltd. Sells 7,551 Shares of Corteva, Inc. $CTVA

Key Points

• Vontobel Holding Ltd. reduced its stake in Corteva, Inc. by 5.8%, selling 7,551 shares, and now owns 121,946 shares valued at approximately $9 million.
• Corteva's recent quarterly earnings surpassed expectations, reporting $2.20 earnings per share against an estimate of $1.89, with revenues of $6.46 billion, reflecting a 5.6% year-over-year increase.
• The company increased its quarterly dividend from $0.17 to $0.18 per share, boosting the annualized dividend to $0.72 with a yield of 1.1%.

Vontobel Holding Ltd. reduced its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 121,946 shares of the company's stock after selling 7,551 shares during the quarter. Vontobel Holding Ltd.'s holdings in Corteva were worth $9,089,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTVA. Maryland Capital Advisors Inc. bought a new stake in Corteva in the 2nd quarter valued at $29,000. Valley National Advisers Inc. lifted its position in Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after acquiring an additional 243 shares in the last quarter. Richardson Capital Management LLC bought a new stake in Corteva in the 1st quarter valued at $37,000. DHJJ Financial Advisors Ltd. lifted its position in Corteva by 132.2% in the 2nd quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company's stock valued at $39,000 after acquiring an additional 300 shares in the last quarter. Finally, von Borstel & Associates Inc. bought a new stake in Corteva in the 1st quarter valued at $44,000. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on CTVA shares. KeyCorp reiterated a "sector weight" rating on shares of Corteva in a research note on Friday, October 3rd. UBS Group lowered their price target on shares of Corteva from $91.00 to $85.00 and set a "buy" rating on the stock in a research note on Monday. Wall Street Zen upgraded shares of Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. upgraded shares of Corteva from a "neutral" rating to an "overweight" rating and set a $67.00 price target on the stock in a research note on Thursday, October 2nd. Finally, Royal Bank Of Canada reiterated an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $80.13.

Corteva Stock Down 0.6%

Corteva stock opened at $62.76 on Friday. The firm has a market capitalization of $42.62 billion, a PE ratio of 30.61, a P/E/G ratio of 1.43 and a beta of 0.76. The company's 50-day moving average is $70.57 and its 200-day moving average is $68.91. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week 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.

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 the consensus estimate of $1.89 by $0.31. The company 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%. Corteva's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $1.83 EPS. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed 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 was Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. This is a boost from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio (DPR) is presently 35.12%.

Insider Buying and Selling at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction dated 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 transaction, the executive vice president directly owned 49,262 shares in the company, valued at $3,655,240.40. The trade was a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is 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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