Wealth Enhancement Advisory Services LLC raised its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 5.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 136,128 shares of the company's stock after acquiring an additional 6,814 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Corteva were worth $8,567,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC bought a new position in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new position in Corteva in the fourth quarter valued at approximately $26,000. Pinney & Scofield Inc. bought a new position in Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC bought a new position in Corteva in the fourth quarter valued at approximately $31,000. Finally, J.Safra Asset Management Corp bought a new position in Corteva in the fourth quarter valued at approximately $37,000. 81.54% of the stock is owned by institutional investors.
Corteva Trading Up 1.0%
Shares of NYSE:CTVA opened at $74.48 on Tuesday. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.96. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The company's fifty day simple moving average is $67.43 and its 200 day simple moving average is $63.02. The firm has a market cap of $50.81 billion, a price-to-earnings ratio of 45.42, a PEG ratio of 1.88 and a beta of 0.75.
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 6.77% and a return on equity of 7.84%. The business had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the business posted $0.89 earnings per share. The firm's quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.
Corteva Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.91%. Corteva's payout ratio is currently 41.46%.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on the stock. Barclays raised their price objective on shares of Corteva from $64.00 to $70.00 and gave the company an "equal weight" rating in a research note on Wednesday, May 14th. KeyCorp lifted their price target on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. The Goldman Sachs Group started coverage on shares of Corteva in a research report on Thursday, March 13th. They set a "buy" rating and a $71.00 price target on the stock. Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Finally, Morgan Stanley lifted their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $72.08.
View Our Latest Research Report on CTVA
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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