Cambridge Investment Research Advisors Inc. Increases Stake in Corteva, Inc. (NYSE:CTVA)

Cambridge Investment Research Advisors Inc. lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 12.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 49,377 shares of the company's stock after purchasing an additional 5,456 shares during the period. Cambridge Investment Research Advisors Inc.'s holdings in Corteva were worth $3,107,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

CTVA has been the topic of a number of recent research reports. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. Morgan Stanley raised their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Barclays raised their target price on shares of Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. Finally, KeyCorp lifted their price target on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $72.08.

Corteva Stock Performance

CTVA stock traded up $0.49 during midday trading on Tuesday, reaching $75.02. The stock had a trading volume of 3,614,243 shares, compared to its average volume of 3,393,640. The firm has a fifty day simple moving average of $68.87 and a two-hundred day simple moving average of $63.53. Corteva, Inc. has a 52-week low of $50.30 and a 52-week high of $75.22. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The stock has a market cap of $51.17 billion, a PE ratio of 26.71, a P/E/G ratio of 1.90 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The firm 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 company's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $0.89 earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend 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.