Wealth Enhancement Advisory Services LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Wealth Enhancement Advisory Services LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 129,314 shares of the company's stock after purchasing an additional 8,299 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Corteva were worth $7,366,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Chicago Partners Investment Group LLC raised its holdings in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock worth $759,000 after acquiring an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC raised its holdings in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its holdings in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after acquiring an additional 158 shares during the last quarter. Lake Street Advisors Group LLC raised its holdings in Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after acquiring an additional 160 shares during the last quarter. Finally, Sepio Capital LP raised its holdings in Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company's stock worth $305,000 after acquiring an additional 166 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. KeyCorp lifted their target price 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. Argus raised shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price for the company in a research report on Monday, March 31st. UBS Group lifted their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $70.50.

Corteva Price Performance

Shares of CTVA traded up $0.25 during trading hours on Wednesday, reaching $71.44. 1,191,148 shares of the stock traded hands, compared to its average volume of 3,306,263. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $71.85. The company's 50-day moving average price is $63.63 and its two-hundred day moving average price is $61.87. The company has a market cap of $48.73 billion, a P/E ratio of 55.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion for the quarter, compared to analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. Corteva's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.95%. The ex-dividend date is Monday, June 2nd. Corteva's payout ratio is currently 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.