Summit Trail Advisors LLC Makes New $234,000 Investment in Corteva, Inc. (NYSE:CTVA)

Summit Trail Advisors LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,882 shares of the company’s stock, valued at approximately $234,000.

A number of other large investors have also made changes to their positions in the company. CVA Family Office LLC purchased a new stake in shares of Corteva in the fourth quarter valued at $25,000. NewSquare Capital LLC increased its holdings in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares during the period. Glass Jacobson Investment Advisors llc boosted its holdings in shares of Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after purchasing an additional 389 shares during the period. BKM Wealth Management LLC acquired a new position in Corteva in the 4th quarter valued at approximately $27,000. Finally, Naples Money Management LLC purchased a new stake in Corteva in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

In other news, insider Brian Titus sold 12,134 shares of the company’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 completion of the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.20% of the stock is owned by insiders.

Corteva Price Performance

Shares of CTVA stock opened at $56.82 on Thursday. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 71.92, a PEG ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.81. The company has a quick ratio of 0.97, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $55.45 and a 200 day moving average price of $50.74.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm earned $1.16 EPS. The company’s revenue for the quarter was down 8.0% on a year-over-year basis. Research analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a $0.16 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.13%. Corteva’s dividend payout ratio is currently 81.01%.

Analyst Ratings Changes

Several research firms have commented on CTVA. TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Oppenheimer upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Canaccord Genuity Group boosted their target price on shares of Corteva from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Friday, May 3rd. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and raised their price target for the company from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Friday, February 2nd. Six research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $63.24.

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.