Silverleafe Capital Partners LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Silverleafe Capital Partners LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 21,572 shares of the company’s stock, valued at approximately $1,244,000. Corteva comprises approximately 0.5% of Silverleafe Capital Partners LLC’s holdings, making the stock its 29th biggest holding.

A number of other hedge funds also recently bought and sold shares of CTVA. LPL Financial LLC lifted its position in Corteva by 1.0% in the 3rd quarter. LPL Financial LLC now owns 460,287 shares of the company’s stock worth $23,548,000 after buying an additional 4,340 shares during the last quarter. Treasurer of the State of North Carolina lifted its position in 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 purchasing an additional 1,200 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in 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 purchasing an additional 1,672 shares during the last quarter. Bank of Nova Scotia lifted its position in 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 purchasing an additional 222,817 shares during the last quarter. Finally, Cape Cod Five Cents Savings Bank bought a new stake in Corteva in the third quarter valued at approximately $251,000. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $53.94 on Friday. The stock has a 50 day moving average price of $54.77 and a 200-day moving average price of $52.73. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market cap 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, Inc. has a one year low of $43.22 and a one year high of $58.76.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm earned $1.16 earnings per share. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. Equities analysts expect that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Announces Dividend

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

Insider Activity at Corteva

In related news, insider Samuel R. Eathington sold 31,686 shares of Corteva 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Samuel R. Eathington sold 31,686 shares of Corteva 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Cornel B. Fuerer sold 39,736 shares of Corteva stock in a transaction dated 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 sale, the senior vice president now directly owns 126,628 shares of the company’s stock, valued at $7,269,713.48. The disclosure for this sale can be found here. Over the last three months, insiders sold 83,556 shares of company stock worth $4,795,016. Company insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on CTVA shares. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Corteva in a research note on Wednesday, June 12th. BMO Capital Markets boosted their target price on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Wolfe Research began coverage on Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 target price on the stock. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Finally, Mizuho reduced their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $63.00.

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.