Bessemer Group Inc. Purchases 525,228 Shares of Corteva, Inc. (NYSE:CTVA)

Bessemer Group Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 17.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,616,067 shares of the company's stock after buying an additional 525,228 shares during the period. Bessemer Group Inc. owned approximately 0.53% of Corteva worth $227,559,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new stake in shares of Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC acquired a new position in Corteva in the 4th quarter worth $26,000. Pinney & Scofield Inc. bought a new position in Corteva during the 4th quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $31,000. Finally, J.Safra Asset Management Corp bought a new stake in shares of Corteva in the fourth quarter valued at about $37,000. Institutional investors own 81.54% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have commented on the company. KeyCorp boosted their target price on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Wells Fargo & Company boosted their price objective on shares of Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. The Goldman Sachs Group began coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price for the company. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Finally, Argus raised shares of 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. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $72.08.

Corteva Stock Performance

Shares of Corteva stock traded up $0.08 during trading on Friday, hitting $74.38. 5,390,596 shares of the stock were exchanged, compared to its average volume of 3,401,782. 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 company has a fifty day moving average price of $68.57 and a 200-day moving average price of $63.37. The stock has a market capitalization of $50.74 billion, a price-to-earnings ratio of 45.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $75.05.

Corteva (NYSE:CTVA - Get Free Report) last posted 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 business had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter last year, the company posted $0.89 earnings per share. Corteva's quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's payout ratio is 41.46%.

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.