Point72 Asia Singapore Pte. Ltd. acquired a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,938 shares of the company's stock, valued at approximately $509,000.
Several other hedge funds also recently made changes to their positions in the business. Flagship Wealth Advisors LLC acquired a new stake in Corteva during the 4th quarter worth about $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva in the 4th quarter valued at approximately $27,000. LGT Financial Advisors LLC acquired a new position in Corteva in the 4th quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC purchased a new position in Corteva during the 4th quarter worth approximately $32,000. Institutional investors and hedge funds own 81.54% of the company's stock.
Corteva Price Performance
NYSE:CTVA traded up $0.19 during mid-day trading on Monday, reaching $68.80. 4,995,283 shares of the company were exchanged, compared to its average volume of 3,298,578. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $46.93 billion, a PE ratio of 53.33, a PEG ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $69.28. The company has a fifty day moving average of $61.61 and a 200 day moving average of $60.98.
Corteva (NYSE:CTVA - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. Corteva's revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.89 earnings per share. On average, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.
Corteva Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. Corteva's dividend payout ratio (DPR) is currently 41.46%.
Insider Transactions at Corteva
In related news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction that occurred on 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 sale, the insider now directly owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.14% of the stock is currently owned by corporate insiders.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the company. Citigroup lifted their price objective on Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a research report on Friday, May 9th. Wells Fargo & Company boosted their target price on shares of Corteva from $73.00 to $79.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. UBS Group lifted their target price on Corteva from $74.00 to $76.00 and gave the stock a "buy" rating in a research report on Thursday, May 8th. Finally, KeyCorp boosted their price target on shares of Corteva from $71.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.
Get Our Latest Report on Corteva
Corteva Company Profile
(
Free Report)
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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