Raiffeisen Bank International AG Takes Position in Corteva, Inc. (NYSE:CTVA)

Raiffeisen Bank International AG bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 18,467 shares of the company's stock, valued at approximately $1,044,000.

A number of other institutional investors also recently modified their holdings of CTVA. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Corteva during the fourth quarter worth approximately $509,000. Polar Asset Management Partners Inc. bought a new stake in shares of Corteva during the fourth quarter worth approximately $4,073,000. Quantinno Capital Management LP raised its stake in shares of Corteva by 52.3% during the fourth quarter. Quantinno Capital Management LP now owns 126,388 shares of the company's stock worth $7,199,000 after buying an additional 43,390 shares during the last quarter. Mufg Securities Americas Inc. acquired a new position in Corteva during the fourth quarter valued at approximately $578,000. Finally, NorthRock Partners LLC acquired a new position in Corteva during the fourth quarter valued at approximately $360,000. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of analyst reports. The Goldman Sachs Group initiated coverage on shares of Corteva in a report on Thursday, March 13th. They set a "buy" rating and a $71.00 price objective for the company. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Argus upgraded shares of Corteva from a "hold" rating to a "buy" rating and set a $69.00 price target for the company in a report on Monday, March 31st. Finally, Wells Fargo & Company boosted their price objective 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. One investment 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. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $70.50.

Corteva Price Performance

Corteva stock traded up $0.32 during trading hours on Tuesday, reaching $69.13. 3,265,672 shares of the stock were exchanged, compared to its average volume of 3,300,169. The company has a market cap of $47.16 billion, a P/E ratio of 53.59, 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. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $69.28. The stock has a 50 day moving average of $61.81 and a two-hundred day moving average of $61.04.

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

Corteva Dividend Announcement

The firm also recently disclosed 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 is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.98%. Corteva's dividend payout ratio (DPR) is presently 41.46%.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the 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 owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents 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 owned by company insiders.

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.