Quotient Wealth Partners LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,711 shares of the company's stock, valued at approximately $234,000.
Other hedge funds have also modified their holdings of the company. Sepio Capital LP boosted its stake in Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company's stock valued at $305,000 after acquiring an additional 166 shares in the last quarter. Allred Capital Management LLC boosted its holdings in Corteva by 3.2% during the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company's stock worth $310,000 after buying an additional 171 shares in the last quarter. NTV Asset Management LLC grew its position in shares of Corteva by 3.3% in the first quarter. NTV Asset Management LLC now owns 5,457 shares of the company's stock valued at $343,000 after purchasing an additional 173 shares during the last quarter. Avantax Planning Partners Inc. boosted its stake in shares of Corteva by 4.1% during the 1st quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company's stock worth $286,000 after purchasing an additional 178 shares during the last quarter. Finally, PFG Investments LLC grew its stake in Corteva by 1.4% during the first quarter. PFG Investments LLC now owns 12,867 shares of the company's stock worth $810,000 after buying an additional 180 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on CTVA. Oppenheimer reissued an "outperform" rating and set a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Wells Fargo & Company raised their target price on shares of Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research note on Monday, June 23rd. UBS Group upped their price target on Corteva from $76.00 to $90.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research note on Friday, June 6th. Finally, Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and an average price target of $76.46.
Get Our Latest Report on Corteva
Corteva Stock Performance
Corteva stock traded down $0.47 on Monday, reaching $73.10. 2,876,206 shares of the stock were exchanged, compared to its average volume of 3,432,811. The firm has a fifty day moving average price of $71.45 and a two-hundred day moving average price of $64.70. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41. The stock has a market cap of $49.87 billion, a PE ratio of 44.57, a PEG ratio of 1.88 and a beta of 0.76. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.
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, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.89 EPS. Sell-side analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.
Corteva Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.93%. Corteva's dividend payout ratio (DPR) is presently 41.46%.
Corteva Company Profile
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Free Report)
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.
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