Banque Pictet & Cie SA bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor bought 66,791 shares of the company's stock, valued at approximately $4,203,000.
A number of other hedge funds have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new position in Corteva during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new position in Corteva during the fourth quarter worth $27,000. LGT Financial Advisors LLC bought a new position in Corteva during the fourth quarter worth $31,000. Valley National Advisers Inc. boosted its holdings in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after purchasing an additional 243 shares during the period. Finally, Richardson Capital Management LLC bought a new stake in Corteva during the first quarter valued at $37,000. Institutional investors and hedge funds own 81.54% of the company's stock.
Corteva Price Performance
Shares of CTVA stock traded down $1.33 during midday trading on Friday, reaching $73.50. 4,389,838 shares of the company were exchanged, compared to its average volume of 3,431,290. The company's 50 day moving average price is $71.45 and its two-hundred day moving average price is $64.60. The company has a market cap of $50.14 billion, a P/E ratio of 44.82, a PEG ratio of 1.91 and a beta of 0.76. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $77.41. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44.
Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company's revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.
Corteva Announces Dividend
The firm also recently announced 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 dividend yield of 0.93%. Corteva's payout ratio is currently 41.46%.
Analyst Ratings Changes
CTVA has been the topic of several research reports. BMO Capital Markets increased their price objective on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research note on Tuesday. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. Barclays raised their price target on Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. Oppenheimer restated an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Finally, KeyCorp increased their target price on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and an average price target of $75.54.
Read Our Latest Research Report on CTVA
About Corteva
(
Free Report)
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.
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