Alta Advisers Ltd Buys Shares of 3,685 Corteva, Inc. (NYSE:CTVA)

Alta Advisers Ltd purchased a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 3,685 shares of the company's stock, valued at approximately $232,000.

Other institutional investors have also recently made changes to their positions in the company. Scissortail Wealth Management LLC lifted its stake in Corteva by 72,080.0% in the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock valued at $206,000 after purchasing an additional 3,604 shares during the last quarter. DnB Asset Management AS lifted its position in shares of Corteva by 39.0% in the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock valued at $13,266,000 after buying an additional 65,334 shares during the last quarter. Brighton Jones LLC boosted its stake in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after acquiring an additional 11,760 shares during the period. Farther Finance Advisors LLC boosted its stake in shares of Corteva by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock worth $279,000 after acquiring an additional 536 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Corteva by 56.3% during the 4th quarter. BNP Paribas Financial Markets now owns 1,460,898 shares of the company's stock worth $83,213,000 after acquiring an additional 526,150 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Ratings Changes

CTVA has been the subject of a number of research reports. Oppenheimer restated an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective for the company. KeyCorp upped their target price on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Barclays lifted their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Finally, Citigroup upped their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, Corteva currently has an average rating of "Moderate Buy" and a consensus price target of $72.08.

Corteva Price Performance

NYSE CTVA traded up $0.24 during midday trading on Friday, hitting $77.24. The company had a trading volume of 1,419,340 shares, compared to its average volume of 3,398,787. The firm has a 50-day moving average price of $69.79 and a 200-day moving average price of $63.82. The company has a market capitalization of $52.69 billion, a PE ratio of 47.09, a P/E/G ratio of 1.96 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.

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.