Union Bancaire Privee UBP SA raised its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 74.7% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,548 shares of the company's stock after acquiring an additional 4,938 shares during the period. Union Bancaire Privee UBP SA's holdings in Corteva were worth $664,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new position in shares of Corteva during the 4th quarter worth approximately $26,000. Pinney & Scofield Inc. purchased a new position in shares of Corteva during the 4th quarter worth approximately $27,000. LGT Financial Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $31,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva during the 4th quarter worth approximately $34,000. 81.54% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts have recently issued reports on CTVA shares. Jefferies Financial Group reissued a "buy" rating on shares of Corteva in a research note on Friday, June 6th. The Goldman Sachs Group started coverage on Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. UBS Group raised their price objective on Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Morgan Stanley raised their price objective on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and an average price target of $70.92.
Check Out Our Latest Stock Analysis on Corteva
Corteva Price Performance
Corteva stock traded down $0.16 during mid-day trading on Friday, hitting $72.36. 3,344,804 shares of the company were exchanged, compared to its average volume of 3,329,755. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business's 50 day simple moving average is $65.54 and its two-hundred day simple moving average is $62.49. The company has a market capitalization of $49.36 billion, a P/E ratio of 56.09, a PEG ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $72.91.
Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.89 earnings per share. Analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.
Corteva Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.
About Corteva
(
Free Report)
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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