Brown Advisory Inc. Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Brown Advisory Inc. lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 296,647 shares of the company's stock after acquiring an additional 11,442 shares during the period. Brown Advisory Inc.'s holdings in Corteva were worth $18,668,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd increased its holdings in shares of Corteva by 18.9% in the 1st quarter. Ninety One UK Ltd now owns 515,754 shares of the company's stock valued at $32,456,000 after acquiring an additional 82,067 shares during the period. Alpha Cubed Investments LLC purchased a new position in shares of Corteva during the first quarter worth about $232,000. Brass Tax Wealth Management Inc. increased its position in Corteva by 3.6% in the 1st quarter. Brass Tax Wealth Management Inc. now owns 5,925 shares of the company's stock valued at $373,000 after acquiring an additional 205 shares during the period. TD Private Client Wealth LLC grew its stake in shares of Corteva by 42.5% in the 1st quarter. TD Private Client Wealth LLC now owns 3,709 shares of the company's stock valued at $233,000 after purchasing an additional 1,107 shares during the last quarter. Finally, Capital Advisors Inc. OK increased its holdings in shares of Corteva by 4.9% in the first quarter. Capital Advisors Inc. OK now owns 6,026 shares of the company's stock valued at $379,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Morgan Stanley boosted their price objective 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. Wells Fargo & Company increased their price target on shares of Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. 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. Royal Bank Of Canada increased their target price on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $75.54.

Corteva Price Performance

Shares of Corteva stock traded down $1.33 during trading on Friday, hitting $73.50. 4,389,838 shares of the company were exchanged, compared to its average volume of 3,431,290. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The firm has a 50 day moving average price of $71.45 and a 200 day moving average price of $64.60. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 44.82, a P/E/G ratio of 1.91 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio is presently 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.