Graham Capital Wealth Management LLC Invests $6.34 Million in Corteva, Inc. (NYSE:CTVA)

Graham Capital Wealth Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 110,000 shares of the company's stock, valued at approximately $6,344,000. Corteva makes up about 7.2% of Graham Capital Wealth Management LLC's holdings, making the stock its 2nd biggest holding.

A number of other institutional investors have also recently bought and sold shares of CTVA. CVA Family Office LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $25,000. Redmont Wealth Advisors LLC purchased a new stake in Corteva in the first quarter valued at approximately $25,000. BKM Wealth Management LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $27,000. Rise Advisors LLC grew its holdings in Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company's stock valued at $27,000 after purchasing an additional 454 shares during the period. Finally, NewSquare Capital LLC lifted its position in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company's stock valued at $28,000 after buying an additional 226 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. UBS Group reduced their price target on shares of Corteva from $65.00 to $64.00 and set a "buy" rating on the stock in a research report on Thursday, January 11th. TheStreet raised shares of Corteva from a "c+" rating to a "b-" rating in a research report on Tuesday, February 27th. BNP Paribas raised shares of Corteva from an "underperform" rating to a "neutral" rating and set a $53.00 price target on the stock in a report on Friday, February 2nd. Oppenheimer upped their price target on shares of Corteva from $62.00 to $67.00 and gave the company an "outperform" rating in a report on Tuesday, April 16th. Finally, Royal Bank of Canada upped their price target on shares of Corteva from $56.00 to $64.00 and gave the company an "outperform" rating in a 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 MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $63.52.

Corteva Stock Performance

Shares of Corteva stock traded up $3.07 during trading on Thursday, hitting $56.98. 5,797,453 shares of the stock were exchanged, compared to its average volume of 3,554,358. The stock's fifty day moving average is $55.33 and its 200 day moving average is $50.61. The stock has a market cap of $39.82 billion, a PE ratio of 55.86, a P/E/G ratio of 1.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.07.

Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company's quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.16 earnings per share. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. Corteva's dividend payout ratio is currently 62.75%.

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.

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