Corteva, Inc. (NYSE:CTVA) Shares Bought by Shelton Capital Management

Shelton Capital Management grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 413.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,804 shares of the company’s stock after buying an additional 19,970 shares during the period. Shelton Capital Management’s holdings in Corteva were worth $1,421,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Great Lakes Retirement Inc. grew its stake in shares of Corteva by 8.2% during the 1st quarter. Great Lakes Retirement Inc. now owns 4,466 shares of the company’s stock valued at $269,000 after buying an additional 338 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Corteva by 4.2% during the 1st quarter. Commonwealth Equity Services LLC now owns 166,329 shares of the company’s stock valued at $10,031,000 after acquiring an additional 6,778 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its holdings in shares of Corteva by 99.3% during the 1st quarter. Prime Capital Investment Advisors LLC now owns 12,424 shares of the company’s stock valued at $749,000 after acquiring an additional 6,190 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Corteva by 0.9% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 4,016,098 shares of the company’s stock valued at $230,122,000 after acquiring an additional 36,745 shares in the last quarter. Finally, Pacer Advisors Inc. lifted its holdings in shares of Corteva by 445.3% during the 1st quarter. Pacer Advisors Inc. now owns 57,794 shares of the company’s stock valued at $3,486,000 after acquiring an additional 47,195 shares in the last quarter. 80.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO David J. Anderson acquired 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was acquired at an average cost of $52.97 per share, for a total transaction of $105,940.00. Following the completion of the acquisition, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at approximately $3,459,364.76. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, EVP Robert D. King acquired 640 shares of the firm’s stock in a transaction dated Tuesday, November 14th. The stock was acquired at an average cost of $46.77 per share, for a total transaction of $29,932.80. Following the completion of the acquisition, the executive vice president now directly owns 59,701 shares of the company’s stock, valued at approximately $2,792,215.77. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO David J. Anderson acquired 2,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was bought at an average price of $52.97 per share, with a total value of $105,940.00. Following the completion of the acquisition, the chief financial officer now directly owns 65,308 shares of the company’s stock, valued at $3,459,364.76. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 2,990 shares of company stock worth $151,066. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on CTVA shares. Credit Suisse Group restated an “outperform” rating and set a $74.00 target price on shares of Corteva in a report on Friday, August 4th. Argus reduced their target price on shares of Corteva from $78.00 to $68.00 and set a “buy” rating on the stock in a report on Thursday, August 17th. Oppenheimer upgraded shares of Corteva from a “market perform” rating to an “outperform” rating and set a $67.00 price objective on the stock in a report on Friday, October 20th. Wells Fargo & Company cut their price objective on shares of Corteva from $73.00 to $66.00 and set an “overweight” rating on the stock in a report on Monday, October 23rd. Finally, TheStreet lowered shares of Corteva from a “b-” rating to a “c” rating in a report on Wednesday, November 8th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.44.

Corteva Price Performance

Shares of NYSE:CTVA opened at $47.32 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $67.55. The firm has a 50-day simple moving average of $49.64 and a 200 day simple moving average of $53.14. The company has a market cap of $33.35 billion, a PE ratio of 36.40, a P/E/G ratio of 1.39 and a beta of 0.80.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, November 8th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Corteva had a net margin of 5.38% and a return on equity of 7.47%. The business had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.63 billion. During the same quarter in the prior year, the firm earned ($0.12) EPS. The company’s revenue for the quarter was down 6.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.61 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.35%. The ex-dividend date of this dividend is Thursday, November 30th. Corteva’s dividend payout ratio (DPR) is 49.23%.

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.