Savvy Advisors Inc. Buys New Stake in Corteva, Inc. (NYSE:CTVA)

Savvy Advisors Inc. purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,103 shares of the company’s stock, valued at approximately $405,000.

A number of other institutional investors have also modified their holdings of CTVA. Chicago Partners Investment Group LLC grew its holdings in Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after acquiring an additional 156 shares during the period. Avidian Wealth Enterprises LLC boosted its position in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC grew its stake in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares during the period. Lake Street Advisors Group LLC increased its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc lifted its stake in shares of Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of NYSE CTVA opened at $60.28 on Tuesday. The firm has a 50-day simple moving average of $61.20 and a 200-day simple moving average of $60.27. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $41.17 billion, a price-to-earnings ratio of 46.73, a price-to-earnings-growth ratio of 1.68 and a beta of 0.73. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of recent analyst reports. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price target for the company. Citigroup increased their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Finally, Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.13.

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.14% of the stock is owned by company 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.