Beaton Management Co. Inc. Makes New Investment in Corteva, Inc. (NYSE:CTVA)

Beaton Management Co. Inc. acquired a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund acquired 3,390 shares of the company's stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in Corteva by 0.8% during the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after buying an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP raised its position in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after acquiring an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. lifted its stake in Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors increased its stake in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after purchasing an additional 12,381,436 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after purchasing an additional 608,898 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

CTVA has been the subject of several research analyst reports. The Goldman Sachs Group initiated coverage on shares of Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 target price for the company. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Oppenheimer reiterated an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Morgan Stanley boosted their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Finally, Wells Fargo & Company raised their price target on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, June 23rd. Three analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average price target of $72.08.

Corteva Stock Performance

Shares of Corteva stock traded up $0.49 during trading hours on Tuesday, hitting $75.02. 3,614,243 shares of the company were exchanged, compared to its average volume of 3,390,278. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The business has a 50-day moving average of $68.87 and a 200-day moving average of $63.53. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $75.22. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 45.74, a P/E/G ratio of 1.90 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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 net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm earned $0.89 EPS. Corteva's quarterly revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. Corteva's payout ratio is currently 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.