Deutsche Bank AG Has $276.22 Million Stake in Corteva, Inc. (NYSE:CTVA)

Key Points

• Deutsche Bank AG increased its stake in Corteva, Inc. by 8.3%, owning approximately 4.39 million shares valued at $276.2 million as of the latest quarter.
• Corteva reported earnings of $2.20 per share for the last quarter, surpassing analyst expectations, with a revenue of $6.46 billion representing a 5.6% year-over-year increase.
• The company announced an increase in its quarterly dividend from $0.17 to $0.18 per share, yielding 1.0%, with the next payment scheduled for September 15th.

Deutsche Bank AG increased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 8.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,389,359 shares of the company's stock after acquiring an additional 337,278 shares during the quarter. Deutsche Bank AG owned about 0.64% of Corteva worth $276,222,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of CTVA. Brighton Jones LLC boosted its holdings in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after buying an additional 11,760 shares during the last quarter. Azimuth Capital Investment Management LLC grew its holdings in shares of Corteva by 2.0% in the fourth quarter. Azimuth Capital Investment Management LLC now owns 126,926 shares of the company's stock valued at $7,230,000 after purchasing an additional 2,430 shares in the last quarter. DRW Securities LLC purchased a new position in shares of Corteva in the fourth quarter valued at $380,000. Scotia Capital Inc. boosted its stake in Corteva by 6.0% during the fourth quarter. Scotia Capital Inc. now owns 5,843 shares of the company's stock worth $333,000 after buying an additional 329 shares during the period. Finally, Neuberger Berman Group LLC boosted its stake in Corteva by 1.7% during the fourth quarter. Neuberger Berman Group LLC now owns 1,124,666 shares of the company's stock worth $64,061,000 after buying an additional 19,021 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

CTVA traded down $0.19 during trading on Friday, reaching $70.87. 5,568,025 shares of the company were exchanged, compared to its average volume of 3,940,977. The stock has a market cap of $48.34 billion, a P/E ratio of 34.57, a PEG ratio of 1.71 and a beta of 0.75. The firm has a 50 day moving average of $73.29 and a 200 day moving average of $66.54. The company has a current ratio of 1.68, a quick ratio of 1.00 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52 week low of $50.78 and a 52 week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.31. The company had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%. The firm's quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.83 EPS. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal 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 paid a dividend of $0.18 per share. 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 annualized dividend and a dividend yield of 1.0%. Corteva's dividend payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Wells Fargo & Company boosted their target price on shares of Corteva from $82.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday. Royal Bank Of Canada boosted their price target on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a research note on Thursday, July 10th. Morgan Stanley upped their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. BMO Capital Markets increased their price target on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Citigroup raised their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average 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.