Schonfeld Strategic Advisors LLC Buys Shares of 5,043 Corteva, Inc. (NYSE:CTVA)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 5,043 shares of the company's stock, valued at approximately $287,000.

Several other institutional investors have also made changes to their positions in CTVA. Flagship Wealth Advisors LLC bought a new stake in Corteva in the fourth quarter valued at $25,000. Noble Wealth Management PBC bought a new stake in Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new stake in Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at $32,000. Finally, Centricity Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm's 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 transaction, the insider now directly owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley upped their price target on Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Argus raised Corteva from a "hold" rating to a "buy" rating and set a $69.00 price objective on the stock in a research note on Monday, March 31st. Citigroup lifted their price objective on shares of Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research note on Friday, May 9th. UBS Group lifted their price target on shares of Corteva from $74.00 to $76.00 and gave the company a "buy" rating in a research note on Thursday, May 8th. Finally, BNP Paribas raised shares of Corteva to a "hold" rating in a research note on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $70.50.

Corteva Stock Performance

NYSE CTVA traded up $0.29 on Friday, hitting $68.58. 3,051,748 shares of the stock were exchanged, compared to its average volume of 3,291,764. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business's fifty day moving average is $61.61 and its 200 day moving average is $60.98. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $69.28. The company has a market capitalization of $46.78 billion, a PE ratio of 53.16, a P/E/G ratio of 1.68 and a beta of 0.72.

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

Corteva Dividend Announcement

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

Corteva Company 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.