Brandywine Global Investment Management LLC Has $26.27 Million Holdings in Corteva, Inc. $CTVA

Key Points

• Brandywine Global Investment Management LLC increased its stake in Corteva, Inc. by 178.5%, now owning $26.27 million worth of 417,509 shares.
• Corteva has received positive ratings from analysts, with several upgrading their price targets, including a boost from KeyCorp to $85.00 and Wells Fargo to $83.00.
• The company recently declared a quarterly dividend increase from $0.17 to $0.18 per share, representing a yield of 1.0%.

Brandywine Global Investment Management LLC raised its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 178.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 417,509 shares of the company's stock after buying an additional 267,608 shares during the period. Brandywine Global Investment Management LLC owned about 0.06% of Corteva worth $26,274,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Pinney & Scofield Inc. bought a new stake in shares of Corteva during the 4th quarter valued at $27,000. Valley National Advisers Inc. grew its stake in shares of Corteva by 85.9% during 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. LGT Financial Advisors LLC bought a new stake in Corteva in the fourth quarter valued at about $31,000. Richardson Capital Management LLC acquired a new position in Corteva in the first quarter valued at about $37,000. Finally, von Borstel & Associates Inc. bought a new position in Corteva during the first quarter worth about $44,000. Institutional investors own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of recent analyst reports. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $83.00 price target (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. UBS Group increased their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a "buy" rating in a report on Thursday, August 7th. Wall Street Zen raised shares of Corteva from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Finally, BMO Capital Markets raised their price objective on Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Thirteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.25.

Corteva Stock Up 0.0%

Shares of Corteva stock traded up $0.0210 during trading on Thursday, reaching $72.9810. The stock had a trading volume of 781,531 shares, compared to its average volume of 3,775,085. The company has a market capitalization of $49.56 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 1.66 and a beta of 0.75. The stock has a fifty day moving average price of $73.39 and a two-hundred day moving average price of $66.93. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

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

Corteva Increases Dividend

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

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.