Concurrent Investment Advisors LLC Acquires 15,016 Shares of Corteva, Inc. (NYSE:CTVA)

Concurrent Investment Advisors LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 262.3% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 20,741 shares of the company's stock after purchasing an additional 15,016 shares during the period. Concurrent Investment Advisors LLC's holdings in Corteva were worth $1,305,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after acquiring an additional 11,760 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in shares of Corteva in the 4th quarter valued at about $7,564,000. Ashton Thomas Private Wealth LLC purchased a new stake in shares of Corteva in the 4th quarter valued at about $413,000. Daiwa Securities Group Inc. raised its holdings in shares of Corteva by 2.8% in the 4th quarter. Daiwa Securities Group Inc. now owns 110,829 shares of the company's stock valued at $6,313,000 after acquiring an additional 3,019 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in shares of Corteva by 31.1% in the 4th quarter. Independent Advisor Alliance now owns 10,307 shares of the company's stock valued at $587,000 after acquiring an additional 2,445 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on CTVA shares. BMO Capital Markets increased their price objective on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday. UBS Group increased their price objective on Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a research report on Wednesday. KeyCorp raised their price target on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Citigroup raised their price target on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $75.54.

Corteva Stock Down 1.8%

Shares of CTVA traded down $1.33 on Friday, reaching $73.50. The stock had a trading volume of 4,389,838 shares, compared to its average volume of 3,435,046. The firm has a market capitalization of $50.14 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76. 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 company has a 50-day simple moving average of $71.45 and a 200-day simple moving average of $64.60. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating 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 firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is 41.46%.

Corteva 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.