Fire Capital Management LLC Takes $602,000 Position in Corteva, Inc. (NYSE:CTVA)

Fire Capital Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 10,576 shares of the company's stock, valued at approximately $602,000.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its holdings in Corteva by 6.9% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 129,314 shares of the company's stock worth $7,366,000 after purchasing an additional 8,299 shares in the last quarter. NorthCrest Asset Manangement LLC grew its holdings in Corteva by 1.4% during the 4th quarter. NorthCrest Asset Manangement LLC now owns 134,015 shares of the company's stock valued at $7,633,000 after buying an additional 1,854 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Corteva in the fourth quarter valued at $13,363,000. PKO Investment Management Joint Stock Co bought a new position in Corteva in the 4th quarter worth about $1,281,000. Finally, Siemens Fonds Invest GmbH increased its holdings in Corteva by 436.4% during the fourth quarter. Siemens Fonds Invest GmbH now owns 23,780 shares of the company's stock valued at $1,355,000 after buying an additional 19,347 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on CTVA. UBS Group upped their price target on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Oppenheimer reissued an "outperform" rating and set a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective on the stock. Finally, Wells Fargo & Company upped their target price on Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Trading Up 1.6%

Shares of Corteva stock traded up $1.10 during trading on Friday, reaching $70.81. The company's stock had a trading volume of 5,450,676 shares, compared to its average volume of 3,309,771. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market cap of $48.30 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 1.68 and a beta of 0.72. The firm's 50-day moving average is $63.29 and its two-hundred day moving average is $61.64. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $71.00.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm's revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.89 EPS. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva's dividend payout ratio (DPR) is currently 41.46%.

About Corteva

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.