Ritholtz Wealth Management Buys Shares of 31,891 Corteva, Inc. (NYSE:CTVA)

Ritholtz Wealth Management purchased a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 31,891 shares of the company's stock, valued at approximately $2,007,000.

A number of other large investors have also made changes to their positions in CTVA. Brighton Jones LLC lifted its position in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock valued at $888,000 after purchasing an additional 11,760 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Corteva by 4.5% during the 4th quarter. V Square Quantitative Management LLC now owns 5,218 shares of the company's stock valued at $297,000 after buying an additional 227 shares during the last quarter. Valeo Financial Advisors LLC lifted its holdings in shares of Corteva by 2.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,849 shares of the company's stock valued at $561,000 after buying an additional 257 shares during the period. Nations Financial Group Inc. IA ADV boosted its stake in shares of Corteva by 7.8% in the fourth quarter. Nations Financial Group Inc. IA ADV now owns 7,125 shares of the company's stock worth $406,000 after buying an additional 517 shares during the last quarter. Finally, Beacon Capital Management LLC grew its holdings in Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after acquiring an additional 158 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA traded down $0.66 during midday trading on Friday, hitting $73.46. The stock had a trading volume of 3,474,511 shares, compared to its average volume of 3,346,694. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The stock has a 50 day simple moving average of $66.85 and a 200-day simple moving average of $62.81. The company has a market capitalization of $50.11 billion, a PE ratio of 44.82, a P/E/G ratio of 1.89 and a beta of 0.75. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $74.84.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the firm posted $0.89 EPS. The firm's revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio (DPR) is 41.46%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CTVA shares. UBS Group boosted their price target on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a report on Thursday, May 8th. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a report on Friday, June 6th. Morgan Stanley lifted their price objective 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 increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Finally, Wells Fargo & Company lifted their price target on Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $71.83.

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.