IFM Investors Pty Ltd Has $10.62 Million Stock Position in Corteva, Inc. $CTVA

Key Points

• IFM Investors Pty Ltd increased its holdings in Corteva, Inc. by 2.6% during Q2, now owning 142,494 shares valued at approximately $10.62 million.
• Corteva's most recent quarterly earnings reported an EPS of $2.20, surpassing estimates, alongside a 5.6% revenue increase year-over-year to $6.46 billion.
• The company recently raised its dividend to $0.18 per share, with an annualized yield of 1.0%, reflecting a positive change from the previous dividend.

IFM Investors Pty Ltd grew its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 142,494 shares of the company's stock after acquiring an additional 3,639 shares during the period. IFM Investors Pty Ltd's holdings in Corteva were worth $10,620,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after buying an additional 11,760 shares during the last quarter. Vident Advisory LLC raised its position in Corteva by 4.0% during the fourth quarter. Vident Advisory LLC now owns 21,940 shares of the company's stock valued at $1,250,000 after acquiring an additional 837 shares in the last quarter. Woodline Partners LP acquired a new stake in Corteva in the fourth quarter valued at approximately $2,351,000. Waverly Advisors LLC increased its stake in shares of Corteva by 18.6% during the 4th quarter. Waverly Advisors LLC now owns 14,369 shares of the company's stock worth $818,000 after purchasing an additional 2,250 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Corteva by 5.5% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 4,089,845 shares of the company's stock valued at $232,958,000 after purchasing an additional 214,256 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. BMO Capital Markets set a $86.00 price objective on shares of Corteva in a report on Monday, September 15th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $83.00 target price (up previously from $82.00) on shares of Corteva in a research report on Friday, August 8th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Corteva from $83.00 to $90.00 and gave the stock a "buy" rating in a research note on Monday, September 15th. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Finally, Wall Street Zen upgraded shares of Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Thirteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $82.00.

Corteva Stock Performance

Shares of Corteva stock traded up $0.18 on Friday, hitting $70.84. The stock had a trading volume of 12,447,631 shares, compared to its average volume of 4,129,035. The stock has a market cap of $48.11 billion, a price-to-earnings ratio of 34.56, a price-to-earnings-growth ratio of 1.62 and a beta of 0.78. The business's 50 day moving average is $72.52 and its two-hundred day moving average is $68.46. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

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 return on equity of 8.68% and a net margin of 8.16%.The company had revenue of $6.46 billion during the quarter, compared to the consensus estimate of $6.26 billion. During the same quarter last year, the firm earned $1.83 earnings per share. The company's revenue was up 5.6% on a year-over-year basis. Analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a dividend of $0.18 per share. This is a boost from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Tuesday, September 2nd. Corteva's payout ratio is 35.12%.

Insider Buying and Selling at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the business's stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the sale, the executive vice president directly owned 49,262 shares in the company, valued at approximately $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.14% of the company's stock.

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.