Corteva, Inc. (NYSE:CTVA) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,089,845 shares of the company's stock after buying an additional 214,256 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.60% of Corteva worth $232,958,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Chicago Partners Investment Group LLC boosted its position in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after acquiring an additional 156 shares during the period. Avidian Wealth Enterprises LLC raised its position in Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC increased its stake in shares of Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after purchasing an additional 158 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after buying an additional 160 shares in the last quarter. Finally, Sepio Capital LP lifted its position in shares of Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after buying an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of Corteva stock traded up $1.23 on Tuesday, reaching $70.29. 2,499,935 shares of the stock were exchanged, compared to its average volume of 3,293,253. The business has a 50 day moving average price of $62.62 and a two-hundred day moving average price of $61.34. The firm has a market capitalization of $47.95 billion, a price-to-earnings ratio of 54.48, a PEG ratio of 1.68 and a beta of 0.72. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $70.36.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. The business had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. During the same quarter last year, the company earned $0.89 EPS. The business's revenue was down 1.7% on a year-over-year basis. Analysts anticipate that Corteva, Inc. will post 2.96 earnings per share 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 paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.97%. Corteva's dividend payout ratio (DPR) is currently 41.46%.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent research reports. Royal Bank of Canada raised their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. The Goldman Sachs Group started 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 upped their price target on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, Wells Fargo & Company increased their price target on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $70.50.

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.