Skandinaviska Enskilda Banken AB publ Has $9.21 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Key Points

• Skandinaviska Enskilda Banken AB increased its stake in Corteva, Inc. by 5.2%, bringing its holdings to 146,363 shares valued at $9.2 million as of the latest SEC filing.
• Multiple institutional investors have significantly boosted their stakes in Corteva, with Scissortail Wealth Management increasing their position by 72,080% in the fourth quarter.
• Corteva recently announced a quarterly dividend of $0.17 per share, representing an annualized yield of 0.93% and a payout ratio of 41.46%.

Skandinaviska Enskilda Banken AB publ grew its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,363 shares of the company's stock after acquiring an additional 7,200 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in Corteva were worth $9,211,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the company. Scissortail Wealth Management LLC increased its holdings in Corteva by 72,080.0% during the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company's stock valued at $206,000 after purchasing an additional 3,604 shares in the last quarter. Allworth Financial LP grew its stake in shares of Corteva by 11.8% during the first quarter. Allworth Financial LP now owns 15,313 shares of the company's stock worth $945,000 after purchasing an additional 1,614 shares during the period. DnB Asset Management AS lifted its holdings in Corteva by 39.0% during the fourth quarter. DnB Asset Management AS now owns 232,902 shares of the company's stock worth $13,266,000 after acquiring an additional 65,334 shares in the last quarter. Brighton Jones LLC lifted its holdings in Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company's stock valued at $279,000 after purchasing an additional 536 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Barclays boosted their price target on Corteva from $70.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Monday, July 7th. Royal Bank Of Canada boosted their price target on Corteva from $74.00 to $85.00 and gave the stock an "outperform" rating in a research report on Thursday, July 10th. Morgan Stanley upped their target price on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, Wells Fargo & Company upped their price objective on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average target price of $77.38.

Corteva Price Performance

Shares of NYSE CTVA traded down $0.47 during mid-day trading on Wednesday, hitting $72.41. 780,920 shares of the stock traded hands, compared to its average volume of 3,704,683. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41. The company has a market cap of $49.40 billion, a PE ratio of 44.17, a price-to-earnings-growth ratio of 1.75 and a beta of 0.76. The firm has a 50 day simple moving average of $72.98 and a two-hundred day simple moving average of $65.99.

Corteva (NYSE:CTVA - Get Free Report) last announced its 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 firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business's quarterly revenue was down 1.7% compared to the same quarter last year. During the same period in the previous year, the business earned $0.89 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a yield of 0.99%. Corteva's payout ratio is presently 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.