Corteva, Inc. (NYSE:CTVA) Shares Bought by Westhampton Capital LLC

Westhampton Capital LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 2.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,641 shares of the company’s stock after acquiring an additional 213 shares during the period. Westhampton Capital LLC’s holdings in Corteva were worth $508,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of the stock. Redmont Wealth Advisors LLC acquired a new position in Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new position in Corteva in the first quarter valued at $25,000. Albion Financial Group UT raised its stake in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Corteva during the 2nd quarter worth about $34,000. Finally, Redwood Wealth Management Group LLC acquired a new position in shares of Corteva during the 2nd quarter worth about $43,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.2 %

CTVA stock opened at $59.12 on Wednesday. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.68. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a fifty day moving average of $56.66 and a 200-day moving average of $55.09. The stock has a market capitalization of $41.21 billion, a PE ratio of 74.84, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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 return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the previous year, the company earned $1.60 EPS. The firm’s revenue for the quarter was up 1.1% compared to the same quarter last year. As a group, analysts expect that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.15%. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on CTVA shares. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $62.21.

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.