WCM Investment Management LLC Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

WCM Investment Management LLC grew its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,978,187 shares of the company's stock after purchasing an additional 98,770 shares during the period. WCM Investment Management LLC owned about 1.02% of Corteva worth $426,088,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after purchasing an additional 646,459 shares during the period. Independent Franchise Partners LLP lifted its position in shares of Corteva by 51.5% during the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after buying an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. grew its stake in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the period. Capital World Investors increased its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp increased its holdings in Corteva by 5.5% in the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after acquiring an additional 608,898 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Trading Up 2.5%

Shares of NYSE CTVA traded up $1.85 during trading on Wednesday, hitting $76.96. 3,291,959 shares of the company were exchanged, compared to its average volume of 3,393,236. The company has a fifty day moving average price of $69.16 and a 200-day moving average price of $63.61. 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 firm has a market capitalization of $52.50 billion, a PE ratio of 46.93, a P/E/G ratio of 1.90 and a beta of 0.76. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $78.75.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. Corteva's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio is presently 41.46%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Oppenheimer reiterated an "outperform" rating and issued a $75.00 target price (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Morgan Stanley boosted their price objective on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, June 23rd. Barclays lifted their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Finally, UBS Group increased their price objective on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $72.08.

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.