Wealthfront Advisers LLC Grows Stock Position in Corteva, Inc. (NYSE:CTVA)

Wealthfront Advisers LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 11.3% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 89,107 shares of the company's stock after acquiring an additional 9,015 shares during the quarter. Wealthfront Advisers LLC's holdings in Corteva were worth $5,608,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. Flagship Wealth Advisors LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new position in shares of Corteva in the fourth quarter worth approximately $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $31,000. Valley National Advisers Inc. grew its holdings in shares of Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after purchasing an additional 243 shares during the last quarter. Finally, Richardson Capital Management LLC bought a new position in shares of Corteva in the first quarter worth approximately $37,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Down 0.2%

Corteva stock traded down $0.12 during mid-day trading on Friday, reaching $73.05. The stock had a trading volume of 3,693,188 shares, compared to its average volume of 3,458,278. The company has a market capitalization of $49.83 billion, a price-to-earnings ratio of 44.54, a PEG ratio of 1.86 and a beta of 0.76. The company has a 50-day moving average price of $72.30 and a two-hundred day moving average price of $65.20. Corteva, Inc. has a one year low of $50.30 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping 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 6.77% and a return on equity of 7.84%. Corteva's revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva's dividend payout ratio is currently 41.46%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTVA. Morgan Stanley lifted their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Royal Bank Of Canada lifted their price target on shares of Corteva from $74.00 to $85.00 and gave the company an "outperform" rating in a report on Thursday, July 10th. KeyCorp lifted their price target on shares of Corteva from $72.00 to $84.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Finally, 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 report on Monday, March 31st. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $77.38.

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.