Corteva, Inc. (NYSE:CTVA) Shares Bought by Vestor Capital LLC

Vestor Capital LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 92.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 307,634 shares of the company’s stock after acquiring an additional 147,792 shares during the quarter. Corteva comprises 1.8% of Vestor Capital LLC’s holdings, making the stock its 19th largest holding. Vestor Capital LLC’s holdings in Corteva were worth $17,683,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. grew its stake in shares of Corteva by 13.3% in the first quarter. Koshinski Asset Management Inc. now owns 1,544 shares of the company’s stock valued at $89,000 after buying an additional 181 shares in the last quarter. Garner Asset Management Corp grew its stake in shares of Corteva by 0.9% in the first quarter. Garner Asset Management Corp now owns 20,043 shares of the company’s stock valued at $1,152,000 after buying an additional 181 shares in the last quarter. Boenning & Scattergood Inc. grew its stake in shares of Corteva by 3.8% in the first quarter. Boenning & Scattergood Inc. now owns 5,289 shares of the company’s stock valued at $304,000 after buying an additional 192 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in shares of Corteva by 0.4% in the first quarter. Louisiana State Employees Retirement System now owns 45,900 shares of the company’s stock valued at $2,815,000 after buying an additional 200 shares in the last quarter. Finally, Parsons Capital Management Inc. RI grew its stake in shares of Corteva by 4.4% in the first quarter. Parsons Capital Management Inc. RI now owns 4,745 shares of the company’s stock valued at $273,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 79.46% of the company’s stock.

Corteva Stock Up 4.9 %

NYSE CTVA traded up $2.68 during trading on Friday, reaching $57.90. 5,728,092 shares of the company’s stock were exchanged, compared to its average volume of 2,393,166. The stock has a market cap of $41.90 billion, a P/E ratio of 24.43, a price-to-earnings-growth ratio of 1.57 and a beta of 0.72. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.13 and a current ratio of 1.64. The company has a 50 day moving average price of $55.74 and a two-hundred day moving average price of $55.10. Corteva, Inc. has a 1 year low of $40.72 and a 1 year high of $64.03.

Corteva (NYSE:CTVA – Get Rating) last posted its earnings results on Thursday, August 4th. The company reported $1.64 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.17. Corteva had a return on equity of 7.30% and a net margin of 10.31%. The business had revenue of $6.25 billion during the quarter, compared to the consensus estimate of $6.09 billion. During the same period in the previous year, the business earned $1.40 EPS. The business’s quarterly revenue was up 11.6% on a year-over-year basis. On average, equities research analysts anticipate that Corteva, Inc. will post 2.55 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 12th will be issued a $0.15 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 11th. Corteva’s payout ratio is presently 23.63%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on CTVA. Mizuho lifted their price objective on Corteva from $60.00 to $67.00 in a research note on Friday, April 29th. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Thursday, April 14th. Argus boosted their target price on Corteva from $61.00 to $69.00 and gave the stock a “buy” rating in a research note on Monday, May 23rd. Credit Suisse Group began coverage on Corteva in a research note on Thursday, July 14th. They set an “outperform” rating and a $68.00 target price for the company. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Corteva from $64.00 to $72.00 in a research note on Tuesday, May 31st. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Corteva Profile

(Get Rating)

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.