Blue Barn Wealth LLC Acquires New Position in Corteva, Inc. $CTVA

Blue Barn Wealth LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, Holdings Channel reports. The fund acquired 2,953 shares of the company’s stock, valued at approximately $220,000.

Several other institutional investors also recently bought and sold shares of CTVA. Peak Financial Advisors LLC purchased a new stake in shares of Corteva during the 2nd quarter valued at about $505,000. Cary Street Partners Financial LLC grew its stake in shares of Corteva by 20.7% in the first quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock worth $5,677,000 after acquiring an additional 15,448 shares during the period. PGGM Investments grew its stake in shares of Corteva by 68.5% in the second quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after acquiring an additional 497,200 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of Corteva by 28.6% in the first quarter. Goldman Sachs Group Inc. now owns 2,851,993 shares of the company’s stock worth $179,476,000 after acquiring an additional 634,938 shares during the period. Finally, S.E.E.D. Planning Group LLC grew its stake in shares of Corteva by 70.3% in the second quarter. S.E.E.D. Planning Group LLC now owns 164,393 shares of the company’s stock worth $12,252,000 after acquiring an additional 67,869 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Corteva news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of research analyst reports. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. UBS Group reduced their price target on shares of Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Wall Street Zen lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, October 18th. Finally, Royal Bank Of Canada dropped their price objective 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. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.65.

Corteva Stock Performance

CTVA opened at $62.52 on Wednesday. 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 company has a market cap of $42.45 billion, a price-to-earnings ratio of 30.50, a PEG ratio of 1.42 and a beta of 0.81. The company’s 50 day moving average is $67.06 and its 200 day moving average is $69.44. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last released its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter last year, the business earned ($0.49) EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be paid a dividend of $0.18 per share. The ex-dividend date is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.2%. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

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.