4,519 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by MQS Management LLC

MQS Management LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,519 shares of the company's stock, valued at approximately $284,000.

A number of other large investors have also made changes to their positions in 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 buying an additional 12,381,436 shares during the period. 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 buying an additional 5,604,838 shares during the period. Norges Bank acquired a new position in Corteva in the 4th quarter valued at approximately $251,892,000. Franklin Resources Inc. increased its stake in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after buying an additional 1,354,418 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in Corteva by 69.0% in the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company's stock valued at $163,181,000 after buying an additional 1,172,110 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Down 0.3%

CTVA stock traded down $0.20 during mid-day trading on Friday, hitting $72.97. 2,104,758 shares of the company were exchanged, compared to its average volume of 3,749,930. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The firm has a market cap of $49.78 billion, a P/E ratio of 44.49, a P/E/G ratio of 1.85 and a beta of 0.76. The firm's 50 day simple moving average is $72.19 and its 200 day simple moving average is $65.03. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $77.41.

Corteva (NYSE:CTVA - Get Free Report) last posted 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 net margin of 6.77% and a return on equity of 7.84%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the company earned $0.89 earnings per share. The firm's revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS 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 0.93%. Corteva's dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

Several brokerages have recently commented on CTVA. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Royal Bank Of Canada increased their price objective on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a research note on Thursday, July 10th. UBS Group increased their price objective on shares of Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. BMO Capital Markets increased their target price on shares of Corteva from $74.00 to $86.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research report on Monday, March 31st. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $77.38.

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.