Alpha Cubed Investments LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Alpha Cubed Investments LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,682 shares of the company's stock, valued at approximately $232,000.

Several other institutional investors have also added to or reduced their stakes in the business. Brass Tax Wealth Management Inc. increased its stake in shares of Corteva by 3.6% during the first quarter. Brass Tax Wealth Management Inc. now owns 5,925 shares of the company's stock valued at $373,000 after buying an additional 205 shares during the period. TD Private Client Wealth LLC increased its stake in shares of Corteva by 42.5% during the first quarter. TD Private Client Wealth LLC now owns 3,709 shares of the company's stock valued at $233,000 after buying an additional 1,107 shares during the period. Capital Advisors Inc. OK increased its stake in shares of Corteva by 4.9% during the first quarter. Capital Advisors Inc. OK now owns 6,026 shares of the company's stock valued at $379,000 after buying an additional 284 shares during the period. Chilton Capital Management LLC increased its stake in shares of Corteva by 94,962.8% during the first quarter. Chilton Capital Management LLC now owns 372,646 shares of the company's stock valued at $23,451,000 after buying an additional 372,254 shares during the period. Finally, Tradewinds LLC. increased its stake in shares of Corteva by 3.8% during the first quarter. Tradewinds LLC. now owns 6,211 shares of the company's stock valued at $391,000 after buying an additional 225 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on CTVA. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research note on Monday, March 31st. KeyCorp upped their price target on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Wells Fargo & Company upped their price target on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, June 23rd. UBS Group upped their price target on Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, The Goldman Sachs Group began coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $75.54.

Corteva Stock Down 1.8%

CTVA stock traded down $1.33 on Friday, hitting $73.50. 4,389,838 shares of the company's stock were exchanged, compared to its average volume of 3,431,289. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.41. The firm has a 50 day moving average price of $71.45 and a two-hundred day moving average price of $64.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The stock has a market cap of $50.14 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. Corteva's payout ratio is 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.