Corteva, Inc. (NYSE:CTVA) Shares Acquired by Keene & Associates Inc.

21 Dec 2023, 13:20 by Amy Steele · The Cerbat Gem

Keene & Associates Inc. grew its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 10.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,459 shares of the company’s stock after buying an additional 1,096 shares during the quarter. Keene & Associates Inc.’s holdings in Corteva were worth $586,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cornerstone Planning Group LLC purchased a new position in Corteva in the second quarter valued at $28,000. Barrett & Company Inc. purchased a new position in Corteva in the first quarter valued at $29,000. Blume Capital Management Inc. boosted its holdings in Corteva by 103.8% in the second quarter. Blume Capital Management Inc. now owns 542 shares of the company’s stock valued at $31,000 after purchasing an additional 276 shares during the period. Perkins Coie Trust Co purchased a new position in Corteva in the third quarter valued at $31,000. Finally, PCA Investment Advisory Services Inc. purchased a new position in Corteva in the second quarter valued at $31,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Robert D. King acquired 640 shares of the company’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 acquisition, the executive vice president now directly owns 59,701 shares in the company, valued at approximately $2,792,215.77. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, insider Samuel R. Eathington acquired 1,094 shares of the company’s stock in a transaction dated Tuesday, November 28th. The stock was acquired at an average cost of $46.07 per share, for a total transaction of $50,400.58. Following the acquisition, the insider now directly owns 41,066 shares in the company, valued at approximately $1,891,910.62. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Robert D. King acquired 640 shares of the company’s stock in a transaction dated Tuesday, November 14th. The shares were purchased at an average price of $46.77 per share, with a total value of $29,932.80. Following the completion of the acquisition, the executive vice president now owns 59,701 shares in the company, valued at $2,792,215.77. The disclosure for this purchase can be found here. Insiders have acquired a total of 2,084 shares of company stock valued at $95,527 in the last quarter. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on CTVA. TheStreet lowered Corteva from a “b-” rating to a “c” rating in a report on Wednesday, November 8th. UBS Group raised Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $63.00 to $67.00 in a report on Tuesday, September 5th. Barclays downgraded Corteva from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $66.00 to $50.00 in a report on Tuesday, November 14th. Mizuho decreased their price target on Corteva from $72.00 to $71.00 and set a “buy” rating for the company in a report on Tuesday, October 10th. Finally, Wells Fargo & Company decreased their price target on Corteva from $73.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $64.65.

View Our Latest Report on Corteva

Corteva Price Performance

CTVA stock opened at $46.59 on Thursday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $65.21. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.97 and a current ratio of 1.58. The stock’s 50 day moving average price is $47.24 and its 200 day moving average price is $51.45. The firm has a market cap of $32.83 billion, a P/E ratio of 35.84, a PEG ratio of 1.43 and a beta of 0.73.

Corteva (NYSE:CTVA – Get Free Report) last posted its earnings results on Wednesday, November 8th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.26) by $0.03. Corteva had a return on equity of 7.47% and a net margin of 5.38%. The firm had revenue of $2.59 billion for the quarter, compared to analyst estimates of $2.63 billion. During the same quarter in the prior year, the company earned ($0.12) EPS. Corteva’s revenue was down 6.7% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.59 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Friday, December 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, November 30th. Corteva’s dividend payout ratio is presently 49.23%.

Corteva Profile

(Free Report)

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.