Tidal Investments LLC Purchases 19,587 Shares of Corteva, Inc. (NYSE:CTVA)

Tidal Investments LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 18.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 123,719 shares of the company’s stock after acquiring an additional 19,587 shares during the quarter. Tidal Investments LLC’s holdings in Corteva were worth $7,047,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Scissortail Wealth Management LLC lifted its position in shares of Corteva by 72,080.0% in the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock worth $206,000 after acquiring an additional 3,604 shares during the period. Van ECK Associates Corp lifted its position in shares of Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after acquiring an additional 525,531 shares during the period. Swedbank AB lifted its position in shares of Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after acquiring an additional 237,764 shares during the period. JPMorgan Chase & Co. raised its holdings in shares of Corteva by 6.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,605,608 shares of the company’s stock worth $270,764,000 after buying an additional 288,885 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in shares of Corteva by 17.3% in the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company’s stock worth $856,000 after buying an additional 2,023 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Corteva Stock Up 0.3%

NYSE CTVA opened at $68.80 on Tuesday. The stock has a fifty day moving average of $61.81 and a 200-day moving average of $61.04. The stock has a market capitalization of $46.93 billion, a P/E ratio of 53.33, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $69.28. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.99%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

Analyst Ratings Changes

CTVA has been the subject of a number of recent research reports. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Wells Fargo & Company increased their target price on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Royal Bank of Canada increased their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $70.50.

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.