Charles Schwab Investment Management Inc. Purchases 220,407 Shares of Corteva, Inc. (NYSE:CTVA)

Key Points

• Charles Schwab Investment Management Inc. has increased its stake in Corteva, Inc. by 4.7%, now holding 4,912,145 shares worth approximately $309 million.
• Corteva recently reported earnings of $2.20 per share, exceeding analysts' expectations, and showed a 5.6% year-over-year revenue growth with $6.46 billion revenue for the quarter.
• The company announced a quarterly dividend increase to $0.18 per share, representing a yield of 1.0%, with the ex-dividend date set for September 2nd.

Charles Schwab Investment Management Inc. raised its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,912,145 shares of the company's stock after purchasing an additional 220,407 shares during the period. Charles Schwab Investment Management Inc. owned 0.72% of Corteva worth $309,121,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Pinney & Scofield Inc. purchased a new position in shares of Corteva in the fourth quarter valued at about $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corteva during the fourth quarter valued at about $31,000. Valley National Advisers Inc. increased its position in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after buying an additional 243 shares during the period. Richardson Capital Management LLC purchased a new stake in Corteva in the first quarter worth about $37,000. Finally, von Borstel & Associates Inc. purchased a new stake in Corteva in the first quarter worth about $44,000. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Corteva stock opened at $70.87 on Friday. The company's 50-day moving average price is $73.29 and its 200-day moving average price is $66.51. Corteva, Inc. has a twelve month low of $50.78 and a twelve month high of $77.41. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The company has a market cap of $48.34 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping 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 the consensus estimate of $6.26 billion. During the same period in the previous year, the firm posted $1.83 EPS. The business's quarterly revenue was up 5.6% on a year-over-year basis. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTVA shares. Wall Street Zen upgraded shares of Corteva from a "hold" rating to a "buy" rating in a report on Saturday. KeyCorp increased their price objective on shares of Corteva from $84.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research note on Friday, June 6th. BMO Capital Markets lifted their price target on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Wells Fargo & Company lifted their price target on shares of Corteva from $82.00 to $83.00 and gave the company an "overweight" rating in a report on Friday. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and a consensus price target of $79.50.

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.

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