Allworth Financial LP increased its holdings in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 11.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,313 shares of the company’s stock after purchasing an additional 1,614 shares during the quarter. Allworth Financial LP’s holdings in Corteva were worth $945,000 as of its most recent SEC filing.
A number of other hedge funds have also added to or reduced their stakes in the business. Capital World Investors boosted its holdings in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after buying an additional 12,381,436 shares during the last quarter. Independent Franchise Partners LLP lifted its stake in Corteva by 51.5% in the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock valued at $939,641,000 after acquiring an additional 5,604,838 shares during the last quarter. Norges Bank bought a new position in shares of Corteva in the 4th quarter valued at about $251,892,000. Franklin Resources Inc. grew its position in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after acquiring an additional 1,354,418 shares during the period. Finally, B. Metzler seel. Sohn & Co. AG increased its stake in shares of Corteva by 69.0% during the 4th quarter. B. Metzler seel. Sohn & Co. AG now owns 2,870,859 shares of the company’s stock worth $163,181,000 after purchasing an additional 1,172,110 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
Wall Street Analyst Weigh In
CTVA has been the subject of several recent analyst reports. BMO Capital Markets raised their target price on shares of Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Barclays raised their price objective on Corteva from $70.00 to $75.00 and gave the company an “equal weight” rating in a research report on Monday, July 7th. Morgan Stanley boosted their target price on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Royal Bank Of Canada raised their price target on Corteva from $74.00 to $85.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $75.54.
View Our Latest Stock Report on CTVA
Corteva Trading Down 1.8%
Shares of CTVA stock opened at $73.50 on Monday. The stock has a 50 day simple moving average of $71.45 and a 200 day simple moving average of $64.70. Corteva, Inc. has a 1 year low of $50.30 and a 1 year high of $77.41. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The stock has a market cap of $50.14 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76.
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. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.
Corteva Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.93%. The ex-dividend date was Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is presently 41.46%.
Corteva 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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