KBC Group NV Buys 22,723 Shares of Corteva, Inc. (NYSE:CTVA)

KBC Group NV lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,144,300 shares of the company's stock after purchasing an additional 22,723 shares during the quarter. KBC Group NV owned 0.17% of Corteva worth $72,011,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. K.J. Harrison & Partners Inc bought a new stake in Corteva during the 1st quarter worth approximately $1,529,000. Sumitomo Mitsui Trust Group Inc. increased its stake in Corteva by 1.8% during the 1st quarter. Sumitomo Mitsui Trust Group Inc. now owns 2,191,949 shares of the company's stock worth $137,939,000 after purchasing an additional 38,575 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Corteva by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,668 shares of the company's stock worth $3,029,000 after purchasing an additional 1,602 shares in the last quarter. TCV Trust & Wealth Management Inc. bought a new stake in Corteva during the 1st quarter worth approximately $218,000. Finally, 3Chopt Investment Partners LLC bought a new stake in Corteva during the 1st quarter worth approximately $333,000. Institutional investors own 81.54% of the company's stock.

Corteva Stock Up 0.8%

Shares of NYSE:CTVA traded up $0.62 during midday trading on Tuesday, hitting $75.15. The stock had a trading volume of 1,395,412 shares, compared to its average volume of 3,747,782. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $75.22. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The business's 50-day simple moving average is $68.87 and its 200-day simple moving average is $63.53. The company has a market cap of $51.27 billion, a P/E ratio of 45.82, a PEG ratio of 1.90 and a beta of 0.75.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders 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 0.90%. Corteva's dividend payout ratio (DPR) is 41.46%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on CTVA shares. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They set a "buy" rating and a $71.00 price target for the company. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price target (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. KeyCorp raised their price target on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a research note on Monday, March 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of "Moderate Buy" and an average target price 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.