387,618 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 387,618 shares of the company's stock, valued at approximately $22,079,000. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.06% of Corteva at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Azzad Asset Management Inc. ADV grew its holdings in shares of Corteva by 2.2% during the fourth quarter. Azzad Asset Management Inc. ADV now owns 50,159 shares of the company's stock worth $2,857,000 after purchasing an additional 1,072 shares in the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Corteva during the fourth quarter worth about $55,000. Polar Asset Management Partners Inc. purchased a new stake in Corteva in the fourth quarter worth approximately $4,073,000. Value Partners Investments Inc. boosted its stake in Corteva by 1.8% in the fourth quarter. Value Partners Investments Inc. now owns 40,342 shares of the company's stock worth $2,296,000 after buying an additional 722 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its stake in Corteva by 13.0% in the fourth quarter. Mackenzie Financial Corp now owns 556,650 shares of the company's stock worth $31,707,000 after buying an additional 64,205 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Corteva Stock Up 1.6%

Corteva stock traded up $1.10 during mid-day trading on Friday, hitting $70.81. The company had a trading volume of 5,450,676 shares, compared to its average volume of 3,309,771. The stock has a market cap of $48.30 billion, a price-to-earnings ratio of 54.89, a PEG ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $71.00. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $63.29 and a 200 day moving average of $61.64.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period last year, the company earned $0.89 earnings per share. The company's revenue for the quarter was down 1.7% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared 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 0.96%. The ex-dividend date is Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research reports. Morgan Stanley upped 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. Wells Fargo & Company increased their price objective on Corteva from $73.00 to $79.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. KeyCorp increased their price objective on Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Citigroup increased their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. One 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's stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of "Moderate Buy" and an average target price of $70.50.

Corteva Company 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.