Bank Julius Baer & Co. Ltd Zurich Acquires 75,797 Shares of Corteva, Inc. (NYSE:CTVA)

Bank Julius Baer & Co. Ltd Zurich grew its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 44.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,966 shares of the company's stock after purchasing an additional 75,797 shares during the period. Bank Julius Baer & Co. Ltd Zurich's holdings in Corteva were worth $15,834,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of CTVA. Capital World Investors increased its holdings in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its stake in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after buying an additional 5,604,838 shares during the last quarter. Norges Bank purchased a new position in shares of Corteva in the 4th quarter worth $251,892,000. Franklin Resources Inc. boosted its stake in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after buying an additional 1,354,418 shares during the last quarter. Finally, B. Metzler seel. Sohn & Co. AG boosted its stake in shares of Corteva by 69.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock worth $163,181,000 after buying an additional 1,172,110 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of CTVA stock traded up $0.29 during trading hours on Friday, hitting $73.41. The stock had a trading volume of 2,667,955 shares, compared to its average volume of 3,521,346. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The stock's 50-day moving average price is $72.84 and its two-hundred day moving average price is $65.78. The stock has a market capitalization of $50.08 billion, a price-to-earnings ratio of 44.76, a PEG ratio of 1.77 and a beta of 0.76.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.93%. Corteva's payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTVA shares. Morgan Stanley raised their price target on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Royal Bank Of Canada raised their price target on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Citigroup lifted their target price on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, UBS Group lifted their target price on Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday, July 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $77.38.

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.