Principal Financial Group Inc. Has $273.63 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Principal Financial Group Inc. trimmed its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 3.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,348,213 shares of the company's stock after selling 152,719 shares during the quarter. Principal Financial Group Inc. owned 0.64% of Corteva worth $273,633,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter valued at $25,000. Pinney & Scofield Inc. purchased a new stake in Corteva during the fourth quarter valued at about $27,000. LGT Financial Advisors LLC acquired a new position in shares of Corteva in the fourth quarter worth about $31,000. Valley National Advisers Inc. increased its position in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after acquiring an additional 243 shares in the last quarter. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on CTVA shares. KeyCorp raised their target price on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Barclays raised their price target on Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research note on Wednesday, May 14th. UBS Group increased their price objective on Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. Finally, Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

Corteva Stock Performance

Shares of NYSE:CTVA traded up $0.24 during trading on Friday, reaching $77.24. The stock had a trading volume of 1,419,340 shares, compared to its average volume of 3,398,787. The stock has a fifty day simple moving average of $69.79 and a two-hundred day simple moving average of $63.82. 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 firm has a market capitalization of $52.69 billion, a price-to-earnings ratio of 47.09, a P/E/G ratio of 1.96 and a beta of 0.76.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. The firm 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 business's revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 EPS. As a group, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. Corteva's payout ratio 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.