Mission Wealth Management LP Purchases 8,084 Shares of Corteva, Inc. (NYSE:CTVA)

Mission Wealth Management LP raised its holdings in Corteva, Inc. (NYSE:CTVA) by 149.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,501 shares of the company’s stock after buying an additional 8,084 shares during the quarter. Mission Wealth Management LP’s holdings in Corteva were worth $850,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Lake Street Advisors Group LLC raised its position in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Sepio Capital LP raised its holdings in shares of Corteva by 3.2% in the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after buying an additional 166 shares in the last quarter. Allred Capital Management LLC lifted its position in shares of Corteva by 3.2% during the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock worth $310,000 after buying an additional 171 shares during the period. Keene & Associates Inc. boosted its stake in Corteva by 1.3% in the 4th quarter. Keene & Associates Inc. now owns 15,586 shares of the company’s stock valued at $888,000 after buying an additional 195 shares in the last quarter. Finally, Foster Group Inc. grew its position in Corteva by 2.6% in the first quarter. Foster Group Inc. now owns 7,810 shares of the company’s stock valued at $491,000 after acquiring an additional 199 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. KeyCorp lifted their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Barclays lifted their target price 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. Finally, Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Three 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.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

Corteva Stock Up 0.0%

NYSE CTVA opened at $74.22 on Wednesday. The stock has a market capitalization of $50.63 billion, a P/E ratio of 45.26, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. Corteva, Inc. has a 52 week low of $50.30 and a 52 week high of $74.63. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.00 and a current ratio of 1.44. The stock has a fifty day moving average of $66.22 and a 200-day moving average of $62.65.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same period last year, the company earned $0.89 earnings per share. The company’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.92%. The ex-dividend date was Monday, June 2nd. Corteva’s payout ratio is 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.