Corteva, Inc. $CTVA Shares Purchased by Aberdeen Group plc

Key Points

• Aberdeen Group plc increased its stake in Corteva, Inc. by 68.8% in the first quarter, now owning 469,661 shares valued at approximately $29.1 million.
• Corteva reported earnings of $2.20 per share for the last quarter, beating analysts' expectations and showing a year-over-year revenue increase of 5.6%.
• The company has announced a quarterly dividend of $0.18 per share, up from its previous dividend, with a current dividend yield of 1.0%.

Aberdeen Group plc raised its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 68.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 469,661 shares of the company's stock after buying an additional 191,449 shares during the quarter. Aberdeen Group plc owned about 0.07% of Corteva worth $29,147,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its stake in Corteva by 307.2% during the fourth 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. Mariner LLC grew its holdings in Corteva by 10.6% during the fourth quarter. Mariner LLC now owns 118,966 shares of the company's stock valued at $6,776,000 after purchasing an additional 11,399 shares during the period. XTX Topco Ltd bought a new stake in Corteva during the fourth quarter valued at about $404,000. Jump Financial LLC bought a new position in shares of Corteva in the fourth quarter worth about $821,000. Finally, NewEdge Advisors LLC lifted its position in shares of Corteva by 10.2% in the fourth quarter. NewEdge Advisors LLC now owns 31,303 shares of the company's stock worth $1,783,000 after buying an additional 2,896 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Up 0.0%

Shares of CTVA stock traded up $0.0150 during trading on Thursday, hitting $72.9750. 2,602,955 shares of the stock traded hands, compared to its average volume of 3,779,846. The firm has a market capitalization of $49.56 billion, a P/E ratio of 35.60, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm's fifty day moving average price is $73.39 and its 200-day moving average price is $66.93. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business's revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.83 EPS. As a group, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a $0.18 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva's dividend payout ratio is presently 33.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on CTVA. Royal Bank Of Canada reaffirmed an "outperform" rating on shares of Corteva in a research note on Monday, August 11th. KeyCorp increased their target price on Corteva from $84.00 to $85.00 and gave the company an "overweight" rating in a research report on Friday, August 8th. BMO Capital Markets increased their price objective on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Citigroup increased their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $80.25.

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.