CX Institutional Acquires 1,560 Shares of Corteva, Inc. (NYSE:CTVA)

CX Institutional lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 34.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,123 shares of the company’s stock after purchasing an additional 1,560 shares during the quarter. CX Institutional’s holdings in Corteva were worth $385,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Corteva by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock worth $4,509,799,000 after purchasing an additional 646,459 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% during the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. Capital World Investors lifted its position in 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 acquiring an additional 12,381,436 shares in the last quarter. Finally, Northern Trust Corp lifted its position in Corteva by 5.5% in the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock valued at $663,521,000 after acquiring an additional 608,898 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on CTVA. Barclays lifted their price target on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research note on Wednesday, May 14th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Argus upgraded shares of 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. 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 note on Monday, May 12th. Finally, UBS Group upped 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. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $70.92.

Corteva Stock Performance

NYSE CTVA opened at $72.36 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $49.36 billion, a P/E ratio of 56.09, a P/E/G ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $72.91. The firm has a 50-day moving average price of $65.54 and a two-hundred day moving average price of $62.49.

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

Corteva Dividend Announcement

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. This represents a $0.68 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s payout ratio is currently 41.46%.

Corteva 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.