Czech National Bank Grows Position in Corteva, Inc. (NYSE:CTVA)

Czech National Bank grew its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 157,461 shares of the company's stock after purchasing an additional 8,442 shares during the quarter. Czech National Bank's holdings in Corteva were worth $9,909,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CTVA. Scissortail Wealth Management LLC lifted its stake in shares of Corteva by 72,080.0% in the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock valued at $206,000 after acquiring an additional 3,604 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after buying an additional 525,531 shares during the period. JPMorgan Chase & Co. raised its holdings in Corteva by 6.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company's stock valued at $270,764,000 after buying an additional 288,885 shares during the last quarter. Allworth Financial LP boosted its position in Corteva by 17.3% during the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company's stock valued at $856,000 after buying an additional 2,023 shares during the period. Finally, DnB Asset Management AS grew its holdings in Corteva by 39.0% in the 4th quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock worth $13,266,000 after acquiring an additional 65,334 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

NYSE:CTVA traded down $0.13 during trading hours on Thursday, hitting $71.25. 2,978,173 shares of the stock traded hands, compared to its average volume of 3,313,317. The company has a market cap of $48.61 billion, a price-to-earnings ratio of 55.23, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $71.88. The stock has a 50 day moving average price of $63.84 and a 200 day moving average price of $61.94. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 earnings per share. Sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.95%. Corteva's payout ratio is currently 41.46%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. BNP Paribas upgraded Corteva to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. KeyCorp upped their price objective on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Morgan Stanley lifted their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $70.50.

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.