Gemmer Asset Management LLC Buys Shares of 3,508 Corteva, Inc. (NYSE:CTVA)

Gemmer Asset Management LLC bought a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,508 shares of the company's stock, valued at approximately $221,000.

A number of other large investors have also recently modified their holdings of the business. Avidian Wealth Enterprises LLC boosted its holdings in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Beacon Capital Management LLC boosted its holdings in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC boosted its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after acquiring an additional 160 shares in the last quarter. Sepio Capital LP boosted its holdings in shares of Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock valued at $305,000 after acquiring an additional 166 shares in the last quarter. Finally, Allred Capital Management LLC lifted its holdings in Corteva by 3.2% during the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after buying an additional 171 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. Morgan Stanley upped their price target on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. KeyCorp upped their price target on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a research report on Friday. Finally, Wells Fargo & Company upped their price target on Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Stock Up 0.7%

Shares of NYSE:CTVA opened at $71.70 on Friday. The company has a market capitalization of $48.91 billion, a price-to-earnings ratio of 55.58, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business's 50-day moving average is $64.17 and its 200-day moving average is $62.13. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $72.24.

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

Corteva Dividend Announcement

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

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.

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