Corteva, Inc. (NYSE:CTVA) Shares Acquired by Ninety One UK Ltd

Ninety One UK Ltd increased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 515,754 shares of the company's stock after purchasing an additional 82,067 shares during the period. Ninety One UK Ltd owned 0.08% of Corteva worth $32,456,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CTVA. Brighton Jones LLC boosted its stake in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the period. Proficio Capital Partners LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $7,564,000. Candriam S.C.A. grew its position in shares of Corteva by 14.4% in the fourth quarter. Candriam S.C.A. now owns 33,520 shares of the company's stock valued at $1,909,000 after purchasing an additional 4,224 shares during the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $413,000. Finally, Edgestream Partners L.P. purchased a new position in shares of Corteva during the 4th quarter worth approximately $2,006,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on CTVA. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Morgan Stanley lifted their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. KeyCorp lifted their target price on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $75.00 target price (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, UBS Group lifted their price target on shares of Corteva from $76.00 to $90.00 and gave the stock a "buy" rating in a research note on Wednesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $75.54.

Corteva Stock Performance

CTVA stock traded down $1.33 during trading on Friday, hitting $73.50. 4,389,838 shares of the company's stock traded hands, compared to its average volume of 3,431,289. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $77.41. The stock has a fifty day moving average price of $71.45 and a two-hundred day moving average price of $64.60. The stock has a market capitalization of $50.14 billion, a price-to-earnings ratio of 44.82, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76.

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

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's payout ratio is currently 41.46%.

Corteva 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.