My Personal CFO LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

My Personal CFO LLC purchased a new position in Corteva, Inc. (NYSE:CTVA – Get Rating) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 1,267 shares of the company’s stock, valued at approximately $74,000.

Several other institutional investors have also modified their holdings of the business. Arrowstreet Capital Limited Partnership boosted its stake in Corteva by 244.0% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock valued at $122,615,000 after acquiring an additional 1,513,063 shares during the last quarter. FMR LLC lifted its position in shares of Corteva by 8.0% during the second quarter. FMR LLC now owns 16,030,378 shares of the company’s stock worth $867,885,000 after purchasing an additional 1,192,696 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Corteva by 691.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,301,414 shares of the company’s stock worth $74,376,000 after purchasing an additional 1,136,916 shares during the last quarter. Franklin Resources Inc. grew its stake in Corteva by 68.1% in the second quarter. Franklin Resources Inc. now owns 2,649,742 shares of the company’s stock worth $143,457,000 after purchasing an additional 1,073,553 shares in the last quarter. Finally, PGGM Investments bought a new stake in Corteva in the third quarter valued at about $58,447,000. Institutional investors and hedge funds own 79.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTVA. KeyCorp reduced their target price on Corteva from $72.00 to $70.00 and set an “overweight” rating on the stock in a report on Friday, February 3rd. Wells Fargo & Company decreased their price objective on shares of Corteva from $78.00 to $77.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. Citigroup boosted their target price on shares of Corteva from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Friday, February 3rd. Bank of America upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $64.00 to $68.00 in a research report on Wednesday, January 11th. Finally, Mizuho boosted their price objective on shares of Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.53.

Insider Activity

In other news, CEO Charles V. Magro bought 40,000 shares of the stock in a transaction that occurred on Monday, February 6th. The shares were purchased at an average cost of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 126,095 shares in the company, valued at $7,646,400.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.08% of the company’s stock.

Corteva Price Performance

CTVA stock traded down $0.35 during trading on Friday, hitting $56.61. The company had a trading volume of 12,011,065 shares, compared to its average volume of 3,574,511. The business has a 50 day moving average of $61.79 and a 200 day moving average of $62.17. The firm has a market capitalization of $40.34 billion, a price-to-earnings ratio of 36.06, a P/E/G ratio of 1.38 and a beta of 0.80. The company has a current ratio of 1.56, a quick ratio of 0.93 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a fifty-two week low of $50.03 and a fifty-two week high of $68.43.

Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. Corteva had a net margin of 6.57% and a return on equity of 7.54%. The company had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same period in the prior year, the business posted $0.08 EPS. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.89 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend was Tuesday, February 28th. Corteva’s dividend payout ratio is presently 38.22%.

Corteva Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.