Trust Co. of Vermont Acquires 8,875 Shares of Corteva, Inc. (NYSE:CTVA)

Trust Co. of Vermont boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 11.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 85,658 shares of the company's stock after purchasing an additional 8,875 shares during the quarter. Trust Co. of Vermont's holdings in Corteva were worth $5,390,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. First Merchants Corp lifted its position in Corteva by 1.2% in the first quarter. First Merchants Corp now owns 97,430 shares of the company's stock worth $6,131,000 after buying an additional 1,140 shares during the last quarter. Sabal Trust CO bought a new stake in Corteva in the first quarter worth $212,000. Sequoia Financial Advisors LLC lifted its position in Corteva by 2.0% in the first quarter. Sequoia Financial Advisors LLC now owns 15,940 shares of the company's stock worth $1,003,000 after buying an additional 305 shares during the last quarter. Terra Nova Asset Management LLC bought a new stake in Corteva in the first quarter worth $204,000. Finally, Pure Financial Advisors LLC lifted its position in Corteva by 39.1% in the first quarter. Pure Financial Advisors LLC now owns 5,041 shares of the company's stock worth $317,000 after buying an additional 1,417 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $74.37 on Friday. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $75.05. The stock's 50-day moving average is $68.27 and its 200 day moving average is $63.27. The company has a market cap of $50.74 billion, a P/E ratio of 45.35, a PEG ratio of 1.87 and a beta of 0.75. 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 (NYSE:CTVA - Get Free Report) last issued 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 the consensus estimate of $4.56 billion. During the same quarter last year, the company earned $0.89 earnings per share. The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. Research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on CTVA. Wells Fargo & Company raised their price target on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday. Oppenheimer restated 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. Jefferies Financial Group restated a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. Finally, Morgan Stanley increased their target price on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $72.08.

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.

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