Banque Cantonale Vaudoise Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Key Points

• Banque Cantonale Vaudoise acquired a new stake of 5,370 shares in Corteva, Inc., totaling approximately $338,000 during the first quarter, indicating strong interest from institutional investors.
• Corteva recently reported an earnings per share (EPS) of $1.13, exceeding expectations, although its revenue for the quarter fell slightly by 1.7% compared to last year.
• The company announced an increase in its quarterly dividend to $0.18 per share, with a yield of 1.0%, set to be paid on September 15th.

Banque Cantonale Vaudoise purchased a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,370 shares of the company's stock, valued at approximately $338,000.

Other hedge funds have also recently modified their holdings of the company. Scissortail Wealth Management LLC increased 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 worth $206,000 after buying an additional 3,604 shares during the period. Allworth Financial LP raised its stake in shares of Corteva by 11.8% during the 1st quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after acquiring an additional 1,614 shares in the last quarter. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock valued at $279,000 after buying an additional 536 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Corteva by 35.9% in the first quarter. Valeo Financial Advisors LLC now owns 13,384 shares of the company's stock worth $841,000 after buying an additional 3,535 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.4%

Shares of CTVA traded down $0.99 during trading on Friday, reaching $71.14. 4,770,918 shares of the company traded hands, compared to its average volume of 3,786,311. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The stock has a market cap of $48.53 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75. The stock has a 50-day simple moving average of $73.15 and a 200-day simple moving average of $66.26. 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 released its 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 company had revenue of $4.42 billion during 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%. Corteva's revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the company posted $0.89 EPS. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be paid a $0.18 dividend. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Corteva's payout ratio is presently 43.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. KeyCorp lifted their target price on Corteva from $72.00 to $84.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. BMO Capital Markets lifted their price target on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. UBS Group increased their price objective on shares of Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, Royal Bank Of Canada increased their price objective on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $79.25.

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.