Peak Financial Advisors LLC Invests $505,000 in Corteva, Inc. $CTVA

Peak Financial Advisors LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 2nd quarter, Holdings Channel reports. The firm purchased 6,775 shares of the company’s stock, valued at approximately $505,000.

Several other institutional investors also recently modified their holdings of CTVA. Pinney & Scofield Inc. acquired a new position in shares of Corteva during the fourth quarter worth $27,000. Valley National Advisers Inc. increased its holdings in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock worth $33,000 after buying an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new stake in Corteva in the first quarter valued at $37,000. von Borstel & Associates Inc. acquired a new stake in Corteva in the first quarter valued at $44,000. Finally, Horizon Financial Services LLC increased its holdings in 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 period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on CTVA. Citigroup downgraded Corteva from a “neutral” rating to a “mixed” rating in a report on Friday, September 5th. Wells Fargo & Company restated an “overweight” rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a report on Friday, August 8th. Oppenheimer set a $87.00 price objective on Corteva and gave the company an “outperform” rating in a report on Tuesday, July 15th. KeyCorp increased their price objective on Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, August 8th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a report on Monday, August 11th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $80.25.

Corteva Stock Performance

Shares of Corteva stock opened at $75.07 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06. The business has a 50-day moving average price of $73.03 and a two-hundred day moving average price of $68.15. Corteva, Inc. has a 1-year low of $53.40 and a 1-year high of $77.41. The company has a market cap of $50.98 billion, a P/E ratio of 36.62, a PEG ratio of 1.67 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings results 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. 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 the consensus estimate of $6.26 billion. During the same period last year, the business posted $1.83 EPS. The business’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s payout ratio is currently 35.12%.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the 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 owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is owned by company 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.