Vestor Capital LLC Boosts Stock Position in Corteva, Inc. (NYSE:CTVA)

Vestor Capital LLC boosted its holdings in Corteva, Inc. (NYSE:CTVAGet Rating) by 92.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 307,634 shares of the company’s stock after purchasing an additional 147,792 shares during the period. Corteva comprises 1.8% of Vestor Capital LLC’s holdings, making the stock its 19th largest position. Vestor Capital LLC’s holdings in Corteva were worth $17,683,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of CTVA. Sierra Capital LLC raised its stake in shares of Corteva by 402.9% in the fourth quarter. Sierra Capital LLC now owns 523 shares of the company’s stock valued at $25,000 after buying an additional 419 shares during the period. CarsonAllaria Wealth Management Ltd. bought a new stake in shares of Corteva during the 4th quarter valued at $25,000. Elmwood Wealth Management Inc. bought a new stake in shares of Corteva during the 4th quarter valued at $26,000. Carl Stuart Investment Advisor Inc. bought a new stake in shares of Corteva during the 1st quarter valued at $28,000. Finally, CKW Financial Group raised its stake in shares of Corteva by 1,083.7% during the 1st quarter. CKW Financial Group now owns 509 shares of the company’s stock valued at $30,000 after purchasing an additional 466 shares during the period. Hedge funds and other institutional investors own 79.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTVA shares. Barclays started coverage on Corteva in a report on Wednesday, June 1st. They issued an “overweight” rating and a $71.00 price objective for the company. Loop Capital raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Thursday, April 14th. Deutsche Bank Aktiengesellschaft increased their target price on Corteva from $64.00 to $72.00 in a research report on Tuesday, May 31st. Argus increased their target price on Corteva from $61.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, May 23rd. Finally, Credit Suisse Group began coverage on Corteva in a research report on Thursday, July 14th. They issued an “outperform” rating and a $68.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.33.

Corteva Price Performance

NYSE:CTVA traded up $2.68 on Friday, reaching $57.90. 5,728,092 shares of the company’s stock traded hands, compared to its average volume of 2,393,166. The company has a quick ratio of 1.13, a current ratio of 1.64 and a debt-to-equity ratio of 0.04. The stock has a 50-day simple moving average of $55.74 and a 200-day simple moving average of $55.10. The firm has a market cap of $41.90 billion, a PE ratio of 24.43, a P/E/G ratio of 1.57 and a beta of 0.72. Corteva, Inc. has a 12 month low of $40.72 and a 12 month high of $64.03.

Corteva (NYSE:CTVAGet Rating) last issued its earnings results on Thursday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.17. Corteva had a return on equity of 7.30% and a net margin of 10.31%. The firm had revenue of $6.25 billion for the quarter, compared to analysts’ expectations of $6.09 billion. During the same period in the previous year, the firm posted $1.40 earnings per share. The business’s revenue was up 11.6% compared to the same quarter last year. Equities research analysts forecast that Corteva, Inc. will post 2.55 earnings per share for the current year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 12th will be paid a dividend of $0.15 per share. This is a boost from Corteva’s previous quarterly dividend of $0.14. This represents a $0.60 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Thursday, August 11th. Corteva’s payout ratio is presently 23.63%.

Corteva Profile

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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.

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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