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

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

Several other hedge funds and other institutional investors also recently modified their holdings of CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva during the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva during the 4th quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in shares of Corteva during the 4th quarter worth $27,000. Pinney & Scofield Inc. purchased a new position in Corteva in the fourth quarter worth $27,000. Finally, LGT Financial Advisors LLC bought a new position in Corteva in the fourth quarter valued at $31,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on CTVA shares. Oppenheimer reiterated an "outperform" rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a report on Friday, May 9th. Wells Fargo & Company lifted their target price on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. KeyCorp lifted their price objective on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. Finally, Morgan Stanley upped their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of "Moderate Buy" and an average price target of $70.50.

Corteva Trading Down 0.4%

CTVA stock traded down $0.32 during mid-day trading on Monday, reaching $70.31. The company had a trading volume of 703,187 shares, compared to its average volume of 3,298,447. The company has a market capitalization of $47.97 billion, a PE ratio of 54.49, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The firm has a 50 day moving average of $63.29 and a 200 day moving average of $61.69. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $71.01. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.97%. Corteva's payout ratio is presently 41.46%.

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.