Cetera Investment Advisers Buys 11,152 Shares of Corteva, Inc. (NYSE:CTVA)

Key Points

• Cetera Investment Advisers increased its stake in Corteva, Inc. by 9.5%, owning 128,585 shares valued at approximately $8.1 million after purchasing an additional 11,152 shares.
• Corteva is experiencing positive analyst ratings, with several firms raising their price targets and the stock holding a consensus rating of "Moderate Buy" with an average price target of $77.38.
• The company announced an increase in its quarterly dividend to $0.18 per share, resulting in an annual yield of 1.0% and reflecting a payout ratio of 41.46%.

Cetera Investment Advisers boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 9.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 128,585 shares of the company's stock after purchasing an additional 11,152 shares during the quarter. Cetera Investment Advisers' holdings in Corteva were worth $8,092,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in Corteva in the 4th quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corteva in the 4th quarter worth approximately $31,000. Valley National Advisers Inc. raised its holdings in shares of Corteva by 85.9% in the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after buying an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $37,000. Finally, von Borstel & Associates Inc. acquired a new position in shares of Corteva in the 1st quarter worth approximately $44,000. Institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.4%

CTVA traded down $0.99 during mid-day trading on Friday, reaching $71.14. The stock had a trading volume of 4,770,918 shares, compared to its average volume of 3,547,760. The stock has a market capitalization of $48.53 billion, a P/E ratio of 43.38, a P/E/G ratio of 1.72 and a beta of 0.75. 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 firm's fifty day simple moving average is $73.15 and its two-hundred day simple moving average is $66.23. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $0.89 EPS. On average, equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. This is an increase from Corteva's previous quarterly dividend of $0.17. Corteva's dividend payout ratio is 41.46%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on CTVA shares. Barclays increased their target price on Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a report on Monday, July 7th. 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 report on Thursday, July 10th. Wells Fargo & Company increased their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Oppenheimer set a $87.00 price target on Corteva and gave the company an "outperform" rating in a report on Tuesday, July 15th. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a report on Friday, June 6th. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.25.

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.