BNP PARIBAS ASSET MANAGEMENT Holding S.A. Acquires 14,690 Shares of Corteva, Inc. $CTVA

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Corteva, Inc. by 33.8%, owning 58,157 shares valued at approximately $3.66 million as of the latest SEC filing.
• Corteva announced a quarterly dividend of $0.18 per share, up from $0.17, reflecting a positive change and a dividend yield of 1.0%.
• Several analysts have set new price targets for Corteva, with an average target of $80.25, indicating a general optimism as 14 analysts rated it a buy.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 33.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,157 shares of the company's stock after buying an additional 14,690 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.'s holdings in Corteva were worth $3,659,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CTVA. Nuveen LLC bought a new position in Corteva in the first quarter worth about $640,333,000. JPMorgan Chase & Co. raised its stake in Corteva by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company's stock worth $315,219,000 after buying an additional 1,769,355 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Corteva by 97.3% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,961,440 shares of the company's stock worth $111,726,000 after buying an additional 967,118 shares in the last quarter. GAMMA Investing LLC raised its stake in Corteva by 7,135.6% in the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company's stock worth $59,644,000 after buying an additional 934,690 shares in the last quarter. Finally, Deutsche Bank AG raised its stake in Corteva by 21.0% in the fourth quarter. Deutsche Bank AG now owns 4,052,081 shares of the company's stock worth $230,807,000 after buying an additional 703,761 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Up 0.5%

Shares of NYSE:CTVA traded up $0.3350 during trading on Friday, reaching $73.3150. 2,664,002 shares of the stock traded hands, compared to its average volume of 4,041,995. The stock has a 50-day moving average of $73.42 and a two-hundred day moving average of $67.10. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock has a market cap of $49.79 billion, a P/E ratio of 35.76, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The firm had revenue of $6.46 billion for the quarter, compared to analysts' expectations of $6.26 billion. During the same quarter in the prior year, the company posted $1.83 earnings per share. The business's revenue for the quarter was up 5.6% on a year-over-year basis. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be issued a $0.18 dividend. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Corteva's dividend payout ratio is 33.17%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTVA shares. Morgan Stanley raised their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Oppenheimer set a $87.00 target price on shares of Corteva and gave the company an "outperform" rating in a research note on Tuesday, July 15th. BMO Capital Markets raised their target price on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Finally, Barclays raised shares of Corteva from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Thirteen investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.25.

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.