PKO Investment Management Joint Stock Co Purchases Shares of 22,498 Corteva, Inc. (NYSE:CTVA)

PKO Investment Management Joint Stock Co bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 22,498 shares of the company's stock, valued at approximately $1,281,000.

Other large investors also recently modified their holdings of the company. Capital World Investors increased its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after acquiring an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after acquiring an additional 5,604,838 shares during the last quarter. Norges Bank bought a new stake in shares of Corteva in the 4th quarter worth about $251,892,000. Raymond James Financial Inc. bought a new stake in shares of Corteva in the 4th quarter worth about $161,052,000. Finally, Franklin Resources Inc. increased its holdings in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Stock Up 1.6%

Shares of CTVA traded up $1.10 during mid-day trading on Friday, hitting $70.81. The company's stock had a trading volume of 5,450,676 shares, compared to its average volume of 3,308,634. The company's 50-day moving average is $63.29 and its 200-day moving average is $61.69. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $71.01. The firm has a market capitalization 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 company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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

Corteva Dividend Announcement

The company 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. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.96%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Oppenheimer restated an "outperform" rating and issued a $75.00 target price (up from $72.00) on shares of Corteva in a report on Friday, May 9th. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research report on Monday, March 31st. Finally, KeyCorp boosted their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. One investment 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $70.50.

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.