Valeo Financial Advisors LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Valeo Financial Advisors LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 35.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,384 shares of the company's stock after purchasing an additional 3,535 shares during the period. Valeo Financial Advisors LLC's holdings in Corteva were worth $841,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva during the 4th quarter valued at about $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva in the fourth quarter worth about $27,000. LGT Financial Advisors LLC acquired a new stake in Corteva during the fourth quarter worth about $31,000. Valley National Advisers Inc. raised its position in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock valued at $33,000 after acquiring an additional 243 shares in the last quarter. Finally, Richardson Capital Management LLC acquired a new position in Corteva in the first quarter valued at approximately $37,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. Oppenheimer reaffirmed an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target on the stock in a research report on Monday, March 31st. The Goldman Sachs Group initiated coverage on shares of Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. Wells Fargo & Company raised their target price on Corteva from $79.00 to $82.00 and gave the company an "overweight" rating in a research report on Monday, June 23rd. Finally, Citigroup upped their price target on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $75.54.

Corteva Price Performance

Shares of Corteva stock traded down $1.33 during mid-day trading on Friday, reaching $73.50. 4,389,838 shares of the stock traded hands, compared to its average volume of 3,431,290. The stock has a market capitalization of $50.14 billion, a PE ratio of 44.82, a PEG ratio of 1.91 and a beta of 0.76. The business has a 50-day moving average of $71.45 and a 200 day moving average of $64.60. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm 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 7.84% and a net margin of 6.77%. The firm's revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.89 EPS. On average, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.93%. Corteva's payout ratio is presently 41.46%.

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.