Koss Olinger Consulting LLC Grows Stake in Corteva, Inc. (NYSE:CTVA)

Key Points

• Koss Olinger Consulting LLC increased its stake in Corteva, Inc. by 202.6% in Q1, owning 32,824 shares valued at approximately $2.07 million as of the latest SEC filing.
• Corteva's latest quarterly earnings report showed an earnings per share (EPS) of $2.20, surpassing estimates by $0.31 and reflecting a 5.6% year-over-year revenue increase.
• The company announced a quarterly dividend increase from $0.17 to $0.18, with an ex-dividend date set for September 2nd, representing an annualized yield of 1.0%.

Koss Olinger Consulting LLC boosted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 202.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,824 shares of the company's stock after purchasing an additional 21,978 shares during the period. Koss Olinger Consulting LLC's holdings in Corteva were worth $2,066,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CTVA. Capital World Investors increased its stake in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP increased its stake in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Corteva by 97.3% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,961,440 shares of the company's stock valued at $111,726,000 after buying an additional 967,118 shares during the last quarter. GAMMA Investing LLC grew its holdings in Corteva by 7,135.6% during the 1st quarter. GAMMA Investing LLC now owns 947,789 shares of the company's stock valued at $59,644,000 after buying an additional 934,690 shares during the last quarter. Finally, Deutsche Bank AG grew its holdings in Corteva by 21.0% during the 4th quarter. Deutsche Bank AG now owns 4,052,081 shares of the company's stock valued at $230,807,000 after buying an additional 703,761 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

CTVA stock opened at $70.87 on Friday. Corteva, Inc. has a 52-week low of $50.78 and a 52-week high of $77.41. The stock's fifty day simple moving average is $73.29 and its 200-day simple moving average is $66.51. The company has a quick ratio of 1.00, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market capitalization of $48.34 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 1.72 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last issued its earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%. The business's quarterly revenue was up 5.6% on a year-over-year basis. During the same period last year, the company posted $1.83 EPS. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a $0.18 dividend. This is an increase from Corteva's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva's dividend payout ratio is 41.46%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on CTVA. Oppenheimer set a $87.00 target price on Corteva and gave the company an "outperform" rating in a report on Tuesday, July 15th. Jefferies Financial Group reiterated a "buy" rating on shares of Corteva in a report on Friday, June 6th. BMO Capital Markets increased their target price on Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Wall Street Zen upgraded Corteva from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.50.

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.

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