4,476 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Optas LLC

Optas LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 4,476 shares of the company's stock, valued at approximately $282,000.

Several other large investors have also modified their holdings of CTVA. Beacon Capital Management LLC raised its stake in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after acquiring an additional 160 shares in the last quarter. Sepio Capital LP lifted its stake in shares of Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after purchasing an additional 166 shares during the last quarter. Allred Capital Management LLC boosted its position in Corteva by 3.2% during the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock valued at $310,000 after purchasing an additional 171 shares in the last quarter. Finally, Keene & Associates Inc. grew its stake in Corteva by 1.3% in the fourth quarter. Keene & Associates Inc. now owns 15,586 shares of the company's stock valued at $888,000 after purchasing an additional 195 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Trading Down 0.2%

Corteva stock opened at $72.36 on Monday. The stock has a 50-day moving average price of $65.54 and a 200 day moving average price of $62.49. The company has a market capitalization of $49.36 billion, a price-to-earnings ratio of 56.09, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $72.91. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

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

Corteva Announces Dividend

The company also recently announced 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 0.94%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. Morgan Stanley raised their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Barclays upped their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday, May 14th. Argus raised 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, The Goldman Sachs Group initiated coverage on Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $70.92.

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.

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