TCV Trust & Wealth Management Inc. Invests $218,000 in Corteva, Inc. (NYSE:CTVA)

TCV Trust & Wealth Management Inc. bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 3,464 shares of the company's stock, valued at approximately $218,000.

Several other hedge funds also recently made changes to their positions in CTVA. Brighton Jones LLC lifted its holdings in shares of Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company's stock worth $888,000 after purchasing an additional 11,760 shares during the last quarter. Lake Street Advisors Group LLC raised its stake in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock valued at $257,000 after acquiring an additional 160 shares in the last quarter. Whipplewood Advisors LLC bought a new position in shares of Corteva in the fourth quarter worth $120,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Corteva by 36.2% during the fourth quarter. Oppenheimer Asset Management Inc. now owns 28,434 shares of the company's stock valued at $1,620,000 after purchasing an additional 7,563 shares during the period. Finally, Oppenheimer & Co. Inc. raised its stake in shares of Corteva by 131.2% during the fourth quarter. Oppenheimer & Co. Inc. now owns 35,662 shares of the company's stock valued at $2,031,000 after purchasing an additional 20,234 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Up 0.1%

NYSE:CTVA traded up $0.05 on Monday, hitting $74.44. 712,260 shares of the company's stock traded hands, compared to its average volume of 3,379,544. 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, Inc. has a 1 year low of $50.30 and a 1 year high of $75.05. The firm has a 50-day moving average price of $68.57 and a 200-day moving average price of $63.42. The company has a market cap of $50.78 billion, a PE ratio of 45.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate 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 analysts' expectations of $4.56 billion. During the same quarter in the previous year, the business posted $0.89 EPS. The business's revenue for the quarter was down 1.7% on a year-over-year basis. Equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. Corteva's payout ratio is 41.46%.

Analyst Ratings Changes

A number of brokerages recently weighed in on CTVA. Citigroup lifted their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. 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 research report on Thursday, May 8th. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. Oppenheimer reiterated an "outperform" rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Finally, Wells Fargo & Company boosted their price target on shares of Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $72.08.

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.