AlphaCore Capital LLC Invests $279,000 in Corteva, Inc. (NYSE:CTVA)

Key Points

• AlphaCore Capital LLC recently acquired 4,441 shares of Corteva, Inc. (CTVA), representing a stake valued at approximately $279,000.
• Multiple institutional investors have increased their holdings in Corteva, with 81.54% of the stock currently owned by hedge funds and institutional investors.
• Corteva declared a quarterly dividend of $0.18 per share, reflecting an increase from the previous dividend, with an annualized yield of 1.0%.

AlphaCore Capital LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,441 shares of the company's stock, valued at approximately $279,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Pinney & Scofield Inc. bought a new stake in Corteva during the fourth quarter worth approximately $27,000. LGT Financial Advisors LLC acquired a new stake in Corteva during the 4th quarter worth $31,000. Valley National Advisers Inc. grew its position in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after purchasing an additional 243 shares during the period. Richardson Capital Management LLC acquired a new position in shares of Corteva during the 1st quarter worth about $37,000. Finally, von Borstel & Associates Inc. acquired a new stake in shares of Corteva during the 1st quarter worth about $44,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on CTVA shares. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Corteva in a research report on Monday. Citigroup upped their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Morgan Stanley raised their target price on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Finally, BMO Capital Markets increased their target price on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.25.

Corteva Trading Down 0.6%

Shares of NYSE CTVA traded down $0.46 during mid-day trading on Thursday, hitting $71.87. 3,242,750 shares of the company traded hands, compared to its average volume of 4,175,249. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $48.81 billion, a price-to-earnings ratio of 35.06, a PEG ratio of 1.66 and a beta of 0.75. Corteva, Inc. has a 1 year low of $52.39 and a 1 year high of $77.41. The business has a 50 day moving average of $73.35 and a two-hundred day moving average of $66.74.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%. Corteva's quarterly revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $1.83 earnings per share. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Corteva's previous quarterly dividend of $0.17. Corteva's payout ratio is currently 33.17%.

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.