Occudo Quantitative Strategies LP Takes $538,000 Position in Corteva, Inc. (NYSE:CTVA)

Occudo Quantitative Strategies LP bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 9,440 shares of the company's stock, valued at approximately $538,000.

Several other hedge funds have also recently modified their holdings of CTVA. Chicago Partners Investment Group LLC raised its holdings in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC raised its stake in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock valued at $76,000 after buying an additional 158 shares during the period. Lake Street Advisors Group LLC boosted its stake in shares of Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after buying an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc grew its holdings in shares of Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock worth $180,000 after acquiring an additional 166 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Price Performance

Shares of CTVA traded down $0.08 during trading hours on Tuesday, reaching $68.73. 1,276,619 shares of the stock traded hands, compared to its average volume of 3,582,453. The company has a market cap of $46.89 billion, a P/E ratio of 53.23, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company's 50-day moving average price is $61.81 and its two-hundred day moving average price is $61.04. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $69.28.

Corteva (NYSE:CTVA - Get Free Report) last announced 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 business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business's revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.89 earnings per share. On average, analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.99%. Corteva's payout ratio is 41.46%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent research reports. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. 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 note on Friday, May 9th. BNP Paribas raised shares of Corteva to a "hold" rating in a report on Monday, February 10th. Citigroup upped their target price 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, Wells Fargo & Company lifted their price target on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research note on Monday, May 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $70.50.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. This represents a 70.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company's stock.

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.