638 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Naples Money Management LLC

Naples Money Management LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, HoldingsChannel reports. The firm purchased 638 shares of the company’s stock, valued at approximately $31,000.

Several other large investors have also added to or reduced their stakes in the company. Xponance Inc. grew its stake in Corteva by 3.8% during the 4th quarter. Xponance Inc. now owns 90,297 shares of the company’s stock valued at $4,327,000 after purchasing an additional 3,284 shares during the last quarter. Goodman Advisory Group LLC grew its stake in Corteva by 3.8% during the 4th quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock valued at $1,898,000 after purchasing an additional 1,447 shares during the last quarter. Keene & Associates Inc. grew its stake in Corteva by 20.6% during the 4th quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock valued at $662,000 after purchasing an additional 2,358 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Corteva by 1.1% in the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after buying an additional 31,171 shares during the last quarter. Finally, Romano Brothers AND Company boosted its stake in shares of Corteva by 12.2% in the fourth quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after buying an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $54.80 on Friday. The business has a 50 day simple moving average of $55.23 and a two-hundred day simple moving average of $50.30. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $62.10. The stock has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a PEG ratio of 1.41 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, analysts predict that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio is presently 62.75%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Wolfe Research assumed coverage on Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price on the stock. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and upped their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Wells Fargo & Company upped their target price on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, UBS Group lowered their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research note on Thursday, January 11th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $63.29.

About Corteva

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.