Summit Place Financial Advisors LLC Sells 1,925 Shares of Corteva, Inc. (NYSE:CTVA)

Summit Place Financial Advisors LLC lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 51,264 shares of the company’s stock after selling 1,925 shares during the period. Corteva makes up approximately 1.7% of Summit Place Financial Advisors LLC’s portfolio, making the stock its 28th biggest holding. Summit Place Financial Advisors LLC’s holdings in Corteva were worth $3,014,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of CTVA. Anomaly Capital Management LP purchased a new stake in Corteva during the second quarter worth about $188,578,000. Vaughan Nelson Investment Management L.P. lifted its stake in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares during the period. Panagora Asset Management Inc. grew its holdings in Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after purchasing an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC raised its stake in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock valued at $91,389,000 after buying an additional 1,031,678 shares during the period. 81.54% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on CTVA. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $62.84.

Corteva Stock Up 0.7 %

CTVA stock opened at $60.79 on Monday. The company’s 50 day moving average is $57.13 and its 200 day moving average is $55.16. The stock has a market cap of $42.37 billion, a price-to-earnings ratio of 76.39, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.21.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The firm had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

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.