Gabelli Funds LLC Acquires 3,000 Shares of Corteva, Inc. (NYSE:CTVA)

Gabelli Funds LLC boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 6.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,636 shares of the company’s stock after buying an additional 3,000 shares during the period. Gabelli Funds LLC’s holdings in Corteva were worth $2,689,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. &PARTNERS increased its position in shares of Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares during the period. Herr Investment Group LLC increased its position in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after purchasing an additional 200 shares during the period. Baxter Bros Inc. increased its position in shares of Corteva by 1.2% during the fourth quarter. Baxter Bros Inc. now owns 17,576 shares of the company’s stock valued at $842,000 after purchasing an additional 215 shares during the period. Albion Financial Group UT increased its position in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after purchasing an additional 227 shares during the period. 81.54% of the stock is owned by institutional investors.

Insider Buying and Selling at Corteva

In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated 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 transaction, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the completion of the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated 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 sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 83,556 shares of company stock valued at $4,795,016. 0.14% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on CTVA. BMO Capital Markets boosted their price objective on Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Oppenheimer upped their price target on Corteva from $67.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. KeyCorp upped their price target on Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. OTR Global reiterated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Finally, Barclays upped their price target on Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $63.00.

Corteva Trading Up 0.2 %

Shares of CTVA traded up $0.11 during trading hours on Friday, hitting $55.39. 2,272,011 shares of the stock traded hands, compared to its average volume of 2,433,612. The company has a current ratio of 1.51, a quick ratio of 0.97 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 $58.76. The firm has a market capitalization of $38.61 billion, a PE ratio of 70.11, a price-to-earnings-growth ratio of 1.50 and a beta of 0.77. The business has a fifty day moving average of $53.68 and a 200-day moving average of $53.63.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.49 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm posted $1.16 earnings per share. The firm’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts expect that Corteva, Inc. will post 2.78 EPS for the current year.

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.