Wealthfront Advisers LLC purchased a new position in Corteva, Inc. (NYSE:CTVA – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 96,415 shares of the company’s stock, valued at approximately $8,165,000.
A number of other hedge funds also recently bought and sold shares of CTVA. JPL Wealth Management LLC purchased a new stake in Corteva during the 3rd quarter valued at about $25,000. Garton & Associates Financial Advisors LLC purchased a new position in Corteva in the fourth quarter worth about $27,000. Bank of Jackson Hole Trust bought a new position in shares of Corteva in the fourth quarter worth approximately $28,000. Cornerstone Financial Management LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $29,000. Finally, Elevation Wealth Partners LLC grew its holdings in shares of Corteva by 334.6% during the second quarter. Elevation Wealth Partners LLC now owns 339 shares of the company’s stock valued at $29,000 after buying an additional 261 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.
Corteva Stock Up 0.8%
Shares of Corteva stock opened at $78.51 on Thursday. The company has a market cap of $52.38 billion, a price-to-earnings ratio of 51.99, a price-to-earnings-growth ratio of 2.39 and a beta of 0.57. The company’s 50 day moving average is $81.92 and its 200 day moving average is $80.15. Corteva, Inc. has a twelve month low of $60.53 and a twelve month high of $90.97. The company has a quick ratio of 1.10, a current ratio of 1.52 and a debt-to-equity ratio of 0.07.
Corteva Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Stockholders of record on Tuesday, September 1st will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 1st. Corteva’s dividend payout ratio (DPR) is 47.68%.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Corteva from $77.00 to $83.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 11th. Citigroup lifted their target price on Corteva from $85.00 to $86.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Royal Bank Of Canada boosted their price target on Corteva from $97.00 to $103.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 21st. Finally, Rothschild & Co Redburn upped their price target on Corteva from $80.00 to $90.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Fourteen research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $91.50.
Get Our Latest Research Report on Corteva
About Corteva
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.
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