Corteva, Inc. (NYSE:CTVA) Shares Purchased by Summit Global Investments

Summit Global Investments increased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 722.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 30,064 shares of the company's stock after acquiring an additional 26,408 shares during the period. Summit Global Investments' holdings in Corteva were worth $1,892,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the period. Independent Franchise Partners LLP grew its holdings in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock valued at $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Franklin Resources Inc. grew its holdings in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors grew its holdings in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock valued at $729,780,000 after purchasing an additional 12,381,436 shares during the last quarter. Finally, Northern Trust Corp grew its holdings in Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock valued at $663,521,000 after purchasing an additional 608,898 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Up 0.2%

Shares of CTVA stock traded up $0.13 during trading hours on Tuesday, reaching $71.08. The company had a trading volume of 930,842 shares, compared to its average volume of 3,552,834. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $71.24. The company has a market capitalization of $48.49 billion, a P/E ratio of 55.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The stock's fifty day simple moving average is $63.46 and its 200 day simple moving average is $61.80.

Corteva (NYSE:CTVA - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating 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 business 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 earned $0.89 earnings per share. The company's revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.96%. Corteva's dividend payout ratio (DPR) is currently 41.46%.

Wall Street Analyst Weigh In

Several research firms have weighed in on CTVA. Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Barclays upped their target price on Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a report on Wednesday, May 14th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. Morgan Stanley upped their price objective on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective on the stock. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.