HB Wealth Management LLC Buys 8,940 Shares of Corteva, Inc. (NYSE:CTVA)

HB Wealth Management LLC raised its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 93.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,480 shares of the company's stock after buying an additional 8,940 shares during the quarter. HB Wealth Management LLC's holdings in Corteva were worth $1,163,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Brighton Jones LLC raised its position in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares during the period. American Century Companies Inc. lifted its holdings in Corteva by 4.8% in the 4th quarter. American Century Companies Inc. now owns 131,538 shares of the company's stock worth $7,492,000 after buying an additional 6,040 shares in the last quarter. Orion Portfolio Solutions LLC increased its position in shares of Corteva by 23.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 23,575 shares of the company's stock worth $1,343,000 after acquiring an additional 4,498 shares during the last quarter. Level Four Advisory Services LLC grew its stake in Corteva by 18.2% during the 4th quarter. Level Four Advisory Services LLC now owns 8,238 shares of the company's stock valued at $469,000 after purchasing an additional 1,269 shares in the last quarter. Finally, CIBC Private Wealth Group LLC grew its position in shares of Corteva by 18.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 26,073 shares of the company's stock worth $1,490,000 after buying an additional 4,137 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an "outperform" rating in a research report on Tuesday, July 15th. Citigroup boosted their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Barclays upped their price target on shares of Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Royal Bank Of Canada lifted their price target on Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. Finally, Morgan Stanley increased their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $77.38.

Corteva Stock Down 1.4%

NYSE CTVA traded down $0.99 during trading on Friday, hitting $71.14. 4,770,918 shares of the company traded hands, compared to its average volume of 3,749,699. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a market capitalization of $48.53 billion, a P/E ratio of 43.38, a PEG ratio of 1.74 and a beta of 0.76. The business has a fifty day simple moving average of $73.11 and a 200 day simple moving average of $66.12. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results 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. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company's revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 EPS. As a group, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. 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 annualized dividend and a dividend yield of 1.0%. Corteva's dividend payout ratio (DPR) is 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.