3,372 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Crescent Sterling Ltd.

Crescent Sterling Ltd. acquired a new position in Corteva, Inc. (NYSE:CTVA) during the first quarter, Holdings Channel.com reports. The institutional investor acquired 3,372 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. GAMMA Investing LLC raised its holdings in shares of Corteva by 15.0% in the first quarter. GAMMA Investing LLC now owns 15,061 shares of the company’s stock worth $948,000 after buying an additional 1,962 shares during the period. Pallas Capital Advisors LLC increased its stake in Corteva by 6.4% in the first quarter. Pallas Capital Advisors LLC now owns 71,262 shares of the company’s stock worth $4,485,000 after purchasing an additional 4,288 shares during the period. Farther Finance Advisors LLC increased its stake in Corteva by 13.9% in the first quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock worth $279,000 after purchasing an additional 536 shares during the period. City Holding Co. increased its stake in Corteva by 5.3% in the first quarter. City Holding Co. now owns 16,977 shares of the company’s stock worth $1,068,000 after purchasing an additional 862 shares during the period. Finally, Baldwin Wealth Partners LLC MA purchased a new stake in Corteva in the first quarter worth $212,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Oppenheimer reaffirmed an “outperform” rating and issued a $75.00 price target (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. UBS Group raised their target price on shares of Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Wells Fargo & Company raised their price objective on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a report on Friday. Finally, Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.50.

Corteva Price Performance

CTVA opened at $72.00 on Tuesday. The business’s 50-day moving average is $64.33 and its two-hundred day moving average is $62.23. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $72.30. The firm has a market capitalization of $49.12 billion, a PE ratio of 55.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.75.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. Corteva’s payout ratio is 41.46%.

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.