Advisory Alpha LLC Increases Stock Position in Corteva, Inc. $CTVA

Advisory Alpha LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 8.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,033 shares of the company’s stock after buying an additional 453 shares during the quarter. Advisory Alpha LLC’s holdings in Corteva were worth $450,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the business. Peak Financial Advisors LLC purchased a new stake in Corteva in the 2nd quarter worth approximately $505,000. Cary Street Partners Financial LLC lifted its stake in Corteva by 20.7% in the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after purchasing an additional 15,448 shares in the last quarter. PGGM Investments lifted its stake in Corteva by 68.5% in the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after purchasing an additional 497,200 shares in the last quarter. Goldman Sachs Group Inc. lifted its stake in Corteva by 28.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after purchasing an additional 634,938 shares in the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its stake in Corteva by 70.3% in the 2nd quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after purchasing an additional 67,869 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Corteva

In related news, EVP Robert D. King sold 37,280 shares of Corteva 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 completion of the transaction, the executive vice president directly owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This trade represents a 43.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on CTVA shares. Jefferies Financial Group lowered their price objective on shares of Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Morgan Stanley set a $84.00 price objective on shares of Corteva in a research report on Monday, September 15th. Argus reduced their target price on shares of Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a report on Monday, October 13th. Royal Bank Of Canada reduced their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, October 17th. Finally, Wells Fargo & Company reduced their target price on shares of Corteva from $83.00 to $80.00 and set an “overweight” rating on the stock in a report on Thursday, October 16th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $79.94.

Corteva Price Performance

Shares of Corteva stock opened at $63.18 on Thursday. The firm has a market cap of $42.90 billion, a PE ratio of 30.82, a price-to-earnings-growth ratio of 1.45 and a beta of 0.76. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company’s fifty day simple moving average is $67.99 and its two-hundred day simple moving average is $69.31.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. During the same quarter last year, the firm earned $1.83 EPS. The company’s revenue was up 5.6% on a year-over-year basis. As a group, equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva 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.