Lake Street Advisors Group LLC Acquires Shares of 3,935 Corteva, Inc. (NYSE:CTVA)

Lake Street Advisors Group LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 3,935 shares of the company’s stock, valued at approximately $227,000.

Several other large investors have also modified their holdings of CTVA. CVA Family Office LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in shares of Corteva during the first quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the first quarter worth approximately $25,000. Rise Advisors LLC grew its holdings in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Finally, ICA Group Wealth Management LLC acquired a new position in Corteva during the fourth quarter worth $28,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA traded up $1.65 during trading hours on Thursday, reaching $55.47. 849,568 shares of the company traded hands, compared to its average volume of 3,419,869. The stock has a fifty day simple moving average of $53.71 and a 200 day simple moving average of $53.51. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The stock has a market capitalization of $38.66 billion, a PE ratio of 68.13, a price-to-earnings-growth ratio of 1.47 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the business posted $1.16 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.78 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th were given a dividend of $0.16 per share. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 annualized dividend and a yield of 1.15%. Corteva’s dividend payout ratio (DPR) is presently 81.01%.

Insider Buying and Selling

In related news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the transaction, the insider now directly owns 53,854 shares in the company, valued at $3,104,144.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now directly owns 13,495 shares in the company, valued at approximately $764,491.75. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the transaction, the insider now owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 83,556 shares of company stock worth $4,795,016. 0.14% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CTVA shares. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Barclays upped their price objective on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. Royal Bank of Canada upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Company upped their price objective on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.00.

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.