Moore Capital Management LP Invests $4.38 Million in Corteva, Inc. (NYSE:CTVA)

Moore Capital Management LP purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 76,908 shares of the company's stock, valued at approximately $4,381,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Flagship Wealth Advisors LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $25,000. Noble Wealth Management PBC bought a new position in Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC bought a new stake in Corteva during the fourth quarter valued at $27,000. LGT Financial Advisors LLC bought a new stake in Corteva during the fourth quarter valued at $31,000. Finally, Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter valued at $32,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research analyst reports. Oppenheimer reissued an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. KeyCorp increased their price objective 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 price objective on the stock in a research report on Monday, March 31st. UBS Group increased their price objective 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, Barclays increased their price objective on shares of Corteva from $64.00 to $70.00 and gave the stock an "equal weight" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $70.50.

Corteva Stock Up 0.4%

NYSE:CTVA traded up $0.29 on Friday, hitting $68.58. The stock had a trading volume of 3,051,748 shares, compared to its average volume of 3,299,725. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $46.84 billion, a P/E ratio of 53.16, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $69.28. The firm's fifty day simple moving average is $61.44 and its two-hundred day simple moving average is $60.93.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company's revenue for the quarter was down 1.7% on a year-over-year basis. During the same quarter last year, the business posted $0.89 EPS. Analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.99%. Corteva's dividend payout ratio (DPR) 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.