GAMMA Investing LLC Has $395,000 Position in Corteva, Inc. (NYSE:CTVA)

GAMMA Investing LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 27.3% in the second quarter, HoldingsChannel.com reports. The fund owned 7,324 shares of the company’s stock after acquiring an additional 1,569 shares during the quarter. GAMMA Investing LLC’s holdings in Corteva were worth $395,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Transcend Capital Advisors LLC grew its stake in shares of Corteva by 46.6% in the 2nd quarter. Transcend Capital Advisors LLC now owns 10,171 shares of the company’s stock valued at $549,000 after buying an additional 3,231 shares during the period. Westwood Holdings Group Inc. grew its stake in shares of Corteva by 1.1% in the 1st quarter. Westwood Holdings Group Inc. now owns 160,761 shares of the company’s stock valued at $9,271,000 after buying an additional 1,812 shares during the period. Cetera Advisors LLC grew its stake in shares of Corteva by 39.1% in the 1st quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock valued at $1,985,000 after buying an additional 9,675 shares during the period. Cetera Investment Advisers grew its stake in shares of Corteva by 221.9% in the 1st quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock valued at $6,891,000 after buying an additional 82,369 shares during the period. Finally, Atria Investments Inc grew its stake in shares of Corteva by 19.4% in the 1st quarter. Atria Investments Inc now owns 73,463 shares of the company’s stock valued at $4,236,000 after buying an additional 11,956 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corteva

In other news, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the transaction, the senior vice president now owns 126,628 shares in the company, valued at approximately $7,269,713.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Samuel R. Eathington sold 31,686 shares of the business’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares in the company, valued at approximately $3,104,144.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Cornel B. Fuerer sold 39,736 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total transaction of $2,281,243.76. Following the completion of the sale, the senior vice president now owns 126,628 shares in the company, valued at $7,269,713.48. The disclosure for this sale can be found here. 0.14% of the stock is owned by insiders.

Corteva Stock Down 0.7 %

Shares of NYSE CTVA traded down $0.35 on Monday, reaching $51.23. 2,473,936 shares of the company’s stock traded hands, compared to its average volume of 3,421,737. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The business’s 50 day simple moving average is $53.48 and its two-hundred day simple moving average is $53.99. The company has a market cap of $35.71 billion, a price-to-earnings ratio of 65.29, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The company has a quick ratio of 0.97, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter last year, the firm earned $1.60 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. As a group, equities research analysts forecast that Corteva, Inc. will post 2.73 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.33%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is 81.01%.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. KeyCorp reduced their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday. JPMorgan Chase & Co. dropped their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday. Wells Fargo & Company dropped their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday. Oppenheimer raised their price target on shares of Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.00.

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.