Mission Wealth Management LP Acquires 8,084 Shares of Corteva, Inc. (NYSE:CTVA)

Mission Wealth Management LP lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 149.2% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,501 shares of the company's stock after buying an additional 8,084 shares during the period. Mission Wealth Management LP's holdings in Corteva were worth $850,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in Corteva by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock valued at $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP grew its holdings in shares of Corteva by 51.5% during 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 during the last quarter. Franklin Resources Inc. grew its holdings in shares of Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors increased its position in Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Corteva by 5.5% in the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after purchasing an additional 608,898 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 0.7%

Corteva stock traded down $0.53 during mid-day trading on Friday, hitting $73.59. 14,522,898 shares of the stock were exchanged, compared to its average volume of 3,386,986. The stock has a market capitalization of $50.20 billion, a price-to-earnings ratio of 44.87, a PEG ratio of 1.89 and a beta of 0.75. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.84. 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 firm's fifty day simple moving average is $67.14 and its two-hundred day simple moving average is $62.89.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. Corteva's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.89 earnings per share. Analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on CTVA shares. Barclays boosted their target price on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. Citigroup boosted their price objective on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. UBS Group increased their target price on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Wells Fargo & Company boosted their price target on Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and an average target price of $71.83.

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.