Polar Asset Management Partners Inc. Invests $4.07 Million in Corteva, Inc. (NYSE:CTVA)

Polar Asset Management Partners Inc. bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 71,500 shares of the company's stock, valued at approximately $4,073,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the 4th quarter worth about $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the fourth quarter valued at approximately $27,000. Pinney & Scofield Inc. bought a new position in shares of Corteva in the fourth quarter valued at $27,000. Finally, LGT Financial Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $31,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. 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 research note on Thursday, May 8th. Royal Bank of Canada increased their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. KeyCorp lifted their price target on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Finally, Barclays upped their price target on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has an average rating of "Moderate Buy" and an average target price of $70.50.

Corteva Price Performance

NYSE CTVA traded up $1.10 during trading hours on Friday, reaching $70.81. 5,450,676 shares of the stock traded hands, compared to its average volume of 3,308,634. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a 50 day simple moving average of $63.29 and a two-hundred day simple moving average of $61.66. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $71.01. The company has a market cap of $48.30 billion, a price-to-earnings ratio of 54.89, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

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

Corteva Announces Dividend

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

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.