Pallas Capital Advisors LLC Buys 4,288 Shares of Corteva, Inc. (NYSE:CTVA)

Pallas Capital Advisors LLC boosted its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.4% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 71,262 shares of the company's stock after acquiring an additional 4,288 shares during the period. Pallas Capital Advisors LLC's holdings in Corteva were worth $4,485,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Avidian Wealth Enterprises LLC raised its stake in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after acquiring an additional 157 shares during the period. Beacon Capital Management LLC increased its stake in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after purchasing an additional 160 shares during the period. Sepio Capital LP lifted its stake in shares of Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock valued at $305,000 after buying an additional 166 shares in the last quarter. Finally, Allred Capital Management LLC boosted its holdings in Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after buying an additional 171 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CTVA. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 target price on the stock. KeyCorp increased their price objective on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Oppenheimer restated an "outperform" rating and issued a $75.00 target price (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Citigroup upped their price target on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Finally, UBS Group raised their price objective on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, Corteva currently has a consensus rating of "Moderate Buy" and an average price target of $70.50.

Corteva Price Performance

CTVA traded up $0.42 during trading on Thursday, reaching $72.49. The stock had a trading volume of 5,547,200 shares, compared to its average volume of 3,323,593. The business has a 50-day moving average of $64.86 and a 200-day moving average of $62.37. Corteva, Inc. has a one year low of $50.30 and a one year high of $72.52. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $49.45 billion, a PE ratio of 56.19, a PEG ratio of 1.68 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company's revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. Corteva's dividend payout ratio (DPR) is 41.46%.

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.