Ritholtz Wealth Management Buys 7,382 Shares of Corteva, Inc. $CTVA

Ritholtz Wealth Management boosted its position in Corteva, Inc. (NYSE:CTVA) by 16.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,910 shares of the company’s stock after buying an additional 7,382 shares during the quarter. Ritholtz Wealth Management’s holdings in Corteva were worth $3,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the company. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the 2nd quarter valued at $25,000. Total Investment Management Inc. bought a new position in Corteva in the 2nd quarter worth about $27,000. Curat Global LLC increased its position in shares of Corteva by 93.7% during the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares during the period. Maryland Capital Advisors Inc. bought a new stake in shares of Corteva during the second quarter valued at about $29,000. Finally, True Wealth Design LLC boosted its position in shares of Corteva by 209.5% in the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corteva in a research note on Monday, December 29th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Royal Bank Of Canada dropped their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Finally, Rothschild & Co Redburn reduced their target price on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Sixteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $78.79.

Corteva Stock Performance

NYSE:CTVA opened at $69.65 on Friday. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm’s fifty day simple moving average is $66.79 and its 200 day simple moving average is $68.66. The stock has a market cap of $47.06 billion, a P/E ratio of 29.77, a price-to-earnings-growth ratio of 1.42 and a beta of 0.74. Corteva, Inc. has a twelve month low of $53.40 and a twelve month high of $77.41.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted ($0.49) EPS. As a group, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva’s dividend payout ratio is 30.77%.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.