Corteva, Inc. (NYSE:CTVA) Shares Purchased by ZWJ Investment Counsel Inc.

ZWJ Investment Counsel Inc. lifted its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 748,527 shares of the company's stock after buying an additional 8,024 shares during the quarter. Corteva makes up 1.9% of ZWJ Investment Counsel Inc.'s investment portfolio, making the stock its 23rd largest holding. ZWJ Investment Counsel Inc. owned approximately 0.11% of Corteva worth $47,105,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $25,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $31,000. Valley National Advisers Inc. increased its stake in shares of Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company's stock worth $33,000 after buying an additional 243 shares during the period. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Corteva during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

Shares of CTVA stock traded up $0.24 during trading hours on Friday, hitting $77.24. The stock had a trading volume of 1,419,340 shares, compared to its average volume of 3,406,439. The firm has a market capitalization of $52.69 billion, a PE ratio of 27.64, a PEG ratio of 1.97 and a beta of 0.76. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41. The stock's 50 day moving average is $70.10 and its 200 day moving average is $63.95. 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 posted its quarterly earnings data 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 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 company'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 earnings per share. As a group, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva's dividend payout ratio is presently 41.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. UBS Group increased their price target on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target on the stock. Morgan Stanley increased their price target on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Finally, Citigroup increased their price target on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $72.08.

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.