U S Global Investors Inc. Takes $378,000 Position in Corteva, Inc. (NYSE:CTVA)

U S Global Investors Inc. acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,000 shares of the company's stock, valued at approximately $378,000.

Other institutional investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC acquired a new stake in Corteva during the fourth quarter valued at $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the fourth quarter worth about $26,000. Pinney & Scofield Inc. acquired a new stake in shares of Corteva in the fourth quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in shares of Corteva in the fourth quarter worth about $31,000. Finally, J.Safra Asset Management Corp acquired a new stake in shares of Corteva in the fourth quarter worth about $37,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on CTVA. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a research report on Monday, March 31st. The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. Morgan Stanley boosted their price target on Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Finally, KeyCorp boosted their price objective on Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $72.08.

Corteva Stock Performance

CTVA stock traded up $0.08 on Friday, reaching $74.38. 5,390,596 shares of the company were exchanged, compared to its average volume of 3,390,137. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $75.05. The stock's fifty day moving average price is $68.57 and its 200 day moving average price is $63.39. The firm has a market capitalization of $50.74 billion, a PE ratio of 45.35, a PEG ratio of 1.90 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 announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm posted $0.89 earnings per share. Corteva's revenue was down 1.7% compared to the same quarter last year. On average, research analysts anticipate that Corteva, Inc. will post 2.96 EPS 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 (DPR) is presently 41.46%.

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.