State of Wyoming Acquires 4,828 Shares of Corteva, Inc. (NYSE:CTVA)

State of Wyoming raised its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 115.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,017 shares of the company's stock after purchasing an additional 4,828 shares during the quarter. State of Wyoming's holdings in Corteva were worth $514,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva during the 4th quarter valued at $25,000. Noble Wealth Management PBC purchased a new position in Corteva during the 4th quarter worth $26,000. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter worth $27,000. LGT Financial Advisors LLC purchased a new position in Corteva during the 4th quarter worth $31,000. Finally, Golden State Wealth Management LLC purchased a new position in Corteva during the 4th quarter worth $32,000. Institutional investors own 81.54% of the company's stock.

Corteva Stock Up 0.3%

CTVA stock opened at $68.80 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company's 50 day moving average is $61.81 and its 200 day moving average is $61.04. The stock has a market cap of $46.93 billion, a price-to-earnings ratio of 53.33, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $69.28.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the firm posted $0.89 earnings per share. The firm's revenue was down 1.7% on a year-over-year basis. Sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.99%. Corteva's dividend payout ratio (DPR) is 41.46%.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTVA shares. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Barclays lifted their price objective on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a report on Wednesday, May 14th. Wells Fargo & Company lifted their price objective on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. KeyCorp lifted their price objective on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, UBS Group boosted their price target on shares of Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a report on Thursday, May 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Corteva has an average rating of "Moderate Buy" and a consensus target price of $70.50.

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.

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