IFM Investors Pty Ltd Has $9.35 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

IFM Investors Pty Ltd raised its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 13.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,971 shares of the company's stock after purchasing an additional 18,342 shares during the quarter. IFM Investors Pty Ltd's holdings in Corteva were worth $9,346,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Brighton Jones LLC lifted its holdings in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its position in shares of Corteva by 7.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 32,577 shares of the company's stock valued at $1,856,000 after acquiring an additional 2,334 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Corteva in the fourth quarter valued at about $7,564,000. Raymond James Financial Inc. acquired a new position in shares of Corteva in the fourth quarter valued at about $161,052,000. Finally, Candriam S.C.A. increased its position in Corteva by 14.4% during the fourth quarter. Candriam S.C.A. now owns 33,520 shares of the company's stock worth $1,909,000 after acquiring an additional 4,224 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

NYSE:CTVA traded down $0.59 during trading hours on Monday, hitting $76.53. The company's stock had a trading volume of 2,461,531 shares, compared to its average volume of 3,402,658. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $78.15. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The stock has a fifty day simple moving average of $70.10 and a 200-day simple moving average of $64.06. The company has a market capitalization of $52.21 billion, a P/E ratio of 27.64, a PEG ratio of 1.97 and a beta of 0.76.

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

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.89%. Corteva's dividend payout ratio is currently 41.46%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Morgan Stanley increased their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. Wells Fargo & Company lifted their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, KeyCorp boosted their price target on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $72.50.

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.