WCM Investment Management LLC Grows Position in Corteva, Inc. (NYSE:CTVA)

WCM Investment Management LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 3.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,103,146 shares of the company's stock after purchasing an additional 213,949 shares during the quarter. WCM Investment Management LLC owned approximately 1.01% of Corteva worth $341,590,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Corteva during the 3rd quarter worth $1,258,000. 17 Capital Partners LLC purchased a new position in shares of Corteva during the 4th quarter worth $1,649,000. Factory Mutual Insurance Co. raised its holdings in shares of Corteva by 10.7% during the 4th quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company's stock worth $25,520,000 after acquiring an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its holdings in shares of Corteva by 9.7% during the 3rd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company's stock worth $39,794,000 after acquiring an additional 68,593 shares during the period. Finally, SG Americas Securities LLC raised its holdings in shares of Corteva by 206.0% during the 4th quarter. SG Americas Securities LLC now owns 31,875 shares of the company's stock worth $1,527,000 after acquiring an additional 21,457 shares during the period. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Down 4.8 %

CTVA traded down $2.70 on Friday, reaching $53.76. The company's stock had a trading volume of 3,906,743 shares, compared to its average volume of 2,991,699. The stock has a 50 day moving average of $55.14 and a two-hundred day moving average of $50.19. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $37.57 billion, a price-to-earnings ratio of 52.71, a P/E/G ratio of 1.47 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.37.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the prior year, the company posted $0.16 earnings per share. As a group, analysts forecast that Corteva, Inc. will post 2.86 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva's dividend payout ratio (DPR) is 62.75%.

Analysts Set New Price Targets

Several analysts recently issued reports on CTVA shares. JPMorgan Chase & Co. restated a "neutral" rating and issued a $57.00 price objective (down from $58.00) on shares of Corteva in a report on Friday. BNP Paribas upgraded shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price objective on the stock in a report on Friday, February 2nd. KeyCorp boosted their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an "overweight" rating in a report on Tuesday. Wells Fargo & Company boosted their price objective on shares of Corteva from $54.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, February 2nd. Finally, Oppenheimer lifted their target price on Corteva from $60.00 to $62.00 and gave the company an "outperform" rating in a research report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $63.05.

Corteva 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.