Wolverine Asset Management LLC Has $1.45 Million Holdings in Corteva, Inc. $CTVA

Wolverine Asset Management LLC cut its stake in Corteva, Inc. (NYSE:CTVA) by 38.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,500 shares of the company’s stock after selling 13,500 shares during the period. Wolverine Asset Management LLC’s holdings in Corteva were worth $1,454,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Gladwyn Financial Advisors Inc. bought a new position in Corteva in the 2nd quarter worth approximately $25,000. True Wealth Design LLC increased its stake in shares of Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after buying an additional 264 shares during the period. Total Investment Management Inc. acquired a new stake in shares of Corteva in the 2nd quarter valued at $27,000. Curat Global LLC raised its position in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the last quarter. Finally, Maryland Capital Advisors Inc. acquired a new position in shares of Corteva during the second quarter valued at $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 1.2%

CTVA opened at $69.65 on Friday. The firm’s fifty day moving average is $66.79 and its two-hundred day moving average is $68.62. The firm has a market cap of $47.06 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 1.41 and a beta of 0.74. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.49) EPS. Equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Rothschild & Co Redburn reduced their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. KeyCorp restated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. Finally, Wolfe Research raised their price objective on shares of Corteva from $80.00 to $81.00 and gave the company an “outperform” rating in a research note on Friday. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.84.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.