Banque Cantonale Vaudoise Acquires New Shares in Corteva, Inc. (NYSE:CTVA)

Banque Cantonale Vaudoise acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the first quarter, according to its most recent filing with the SEC. The fund acquired 5,370 shares of the company’s stock, valued at approximately $338,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Pinney & Scofield Inc. bought a new position in Corteva in the fourth quarter valued at $27,000. LGT Financial Advisors LLC bought a new position in shares of Corteva during the 4th quarter valued at about $31,000. Valley National Advisers Inc. increased its position in shares of Corteva by 85.9% during the 1st quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC bought a new position in shares of Corteva during the 1st quarter valued at about $37,000. Finally, von Borstel & Associates Inc. bought a new position in shares of Corteva during the 1st quarter valued at about $44,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of NYSE:CTVA opened at $71.14 on Friday. The firm’s 50 day moving average price is $73.15 and its 200-day moving average price is $66.19. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $77.41. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $48.53 billion, a PE ratio of 43.38, a price-to-earnings-growth ratio of 1.74 and a beta of 0.75.

Corteva (NYSE:CTVA) last announced its earnings results 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 company had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the firm earned $0.89 EPS. Corteva’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.0%. This is an increase from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent research reports. Royal Bank Of Canada increased their price objective on Corteva from $74.00 to $85.00 and gave the company an “outperform” rating in a research report on Thursday, July 10th. Citigroup boosted their price target on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research note on Friday, June 6th. BMO Capital Markets boosted their price target on shares of Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Finally, KeyCorp boosted their price target on shares of Corteva from $72.00 to $84.00 and gave the stock an “overweight” rating in a research note on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $77.38.

Corteva Company 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.