S.E.E.D. Planning Group LLC Has $2.89 Million Holdings in Corteva, Inc. (NYSE:CTVA)

S.E.E.D. Planning Group LLC raised its position in Corteva, Inc. (NYSE:CTVA) by 14.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 50,167 shares of the company’s stock after acquiring an additional 6,392 shares during the period. S.E.E.D. Planning Group LLC’s holdings in Corteva were worth $2,893,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the stock. LPL Financial LLC raised its stake in shares of Corteva by 1.0% in the third quarter. LPL Financial LLC now owns 460,287 shares of the company’s stock valued at $23,548,000 after buying an additional 4,340 shares during the period. Treasurer of the State of North Carolina raised its stake in shares of Corteva by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 322,435 shares of the company’s stock valued at $16,496,000 after buying an additional 1,200 shares during the period. Tower Research Capital LLC TRC raised its stake in shares of Corteva by 4.0% in the third quarter. Tower Research Capital LLC TRC now owns 43,707 shares of the company’s stock valued at $2,236,000 after buying an additional 1,672 shares during the period. Bank of Nova Scotia raised its stake in shares of Corteva by 347.8% in the third quarter. Bank of Nova Scotia now owns 286,888 shares of the company’s stock valued at $14,677,000 after buying an additional 222,817 shares during the period. Finally, Cape Cod Five Cents Savings Bank bought a new stake in shares of Corteva in the third quarter valued at $251,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares in the company, valued at approximately $7,269,713.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, SVP Cornel B. Fuerer sold 39,736 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $57.41, for a total value of $2,281,243.76. Following the transaction, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at approximately $7,269,713.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction on 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 directly owns 53,854 shares in the company, valued at $3,104,144.56. The disclosure for this sale can be found here. Insiders have sold a total of 83,556 shares of company stock worth $4,795,016 in the last ninety days. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTVA. Wolfe Research began coverage on Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Oppenheimer boosted their price objective on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Mizuho decreased their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Canaccord Genuity Group boosted their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Wells Fargo & Company boosted their price objective on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. One equities research 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 MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $63.00.

Corteva Price Performance

Shares of CTVA traded up $0.29 during midday trading on Friday, reaching $53.94. The stock had a trading volume of 6,301,369 shares, compared to its average volume of 3,420,539. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a current ratio of 1.51, a quick ratio of 0.97 and a debt-to-equity ratio of 0.10. The company’s 50-day moving average is $54.77 and its 200 day moving average is $52.73. The company has a market capitalization of $37.60 billion, a price-to-earnings ratio of 68.28, a price-to-earnings-growth ratio of 1.43 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. Corteva’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.8 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is currently 81.01%.

Corteva 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.