Victory Capital Management Inc. Purchases 30,620 Shares of Corteva, Inc. (NYSE:CTVA)

Victory Capital Management Inc. grew its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 340,568 shares of the company's stock after buying an additional 30,620 shares during the quarter. Victory Capital Management Inc.'s holdings in Corteva were worth $21,432,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company's stock worth $4,509,799,000 after acquiring an additional 646,459 shares during the last quarter. Independent Franchise Partners LLP increased its position in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company's stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Franklin Resources Inc. increased its position in Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company's stock worth $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. Capital World Investors increased its position in Corteva by 2,874.6% in the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company's stock worth $729,780,000 after purchasing an additional 12,381,436 shares during the last quarter. Finally, Northern Trust Corp increased its position in Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company's stock worth $663,521,000 after purchasing an additional 608,898 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTVA shares. Oppenheimer set a $87.00 target price on Corteva and gave the company an "outperform" rating in a research report on Tuesday, July 15th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Citigroup increased their target price on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price target on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, June 23rd. Finally, Jefferies Financial Group reaffirmed a "buy" rating on shares of Corteva in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $77.38.

Corteva Stock Performance

NYSE CTVA opened at $72.95 on Tuesday. Corteva, Inc. has a fifty-two week low of $50.30 and a fifty-two week high of $77.41. The stock has a market cap of $49.76 billion, a price-to-earnings ratio of 44.48, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The business has a fifty day moving average of $72.30 and a 200-day moving average of $65.26. 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 earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS. As a group, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were issued a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.93%. Corteva's dividend payout ratio 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.

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