Headlands Technologies LLC Has $265,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Headlands Technologies LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 42.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,919 shares of the company’s stock after selling 3,599 shares during the period. Headlands Technologies LLC’s holdings in Corteva were worth $265,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of CTVA. Avantax Advisory Services Inc. grew its holdings in shares of Corteva by 6.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,511 shares of the company’s stock valued at $600,000 after buying an additional 720 shares in the last quarter. Private Wealth Management Group LLC purchased a new position in shares of Corteva during the fourth quarter valued at $33,000. Allegheny Financial Group LTD grew its holdings in shares of Corteva by 16.4% during the fourth quarter. Allegheny Financial Group LTD now owns 6,373 shares of the company’s stock valued at $305,000 after buying an additional 897 shares in the last quarter. Kentucky Retirement Systems grew its holdings in shares of Corteva by 2.4% during the fourth quarter. Kentucky Retirement Systems now owns 56,386 shares of the company’s stock valued at $2,702,000 after buying an additional 1,296 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its holdings in shares of Corteva by 2.1% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,107 shares of the company’s stock valued at $1,203,000 after buying an additional 511 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE CTVA opened at $56.63 on Friday. The stock has a 50-day simple moving average of $54.12 and a 200 day simple moving average of $54.65. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.76. The stock has a market capitalization of $39.20 billion, a PE ratio of 71.68, a P/E/G ratio of 1.60 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the prior 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. Research analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.20%. Corteva’s dividend payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. OTR Global restated a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Mizuho lowered their target price on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research note on Tuesday, June 18th. Finally, KeyCorp lowered their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.67.

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.