Corteva, Inc. (NYSE:CTVA) Shares Acquired by Forum Financial Management LP

Forum Financial Management LP increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 23.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,304 shares of the company’s stock after purchasing an additional 2,356 shares during the period. Forum Financial Management LP’s holdings in Corteva were worth $701,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of CTVA. Flagship Wealth Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $27,000. Pinney & Scofield Inc. acquired a new stake in shares of Corteva during the fourth quarter worth $27,000. Finally, LGT Financial Advisors LLC purchased a new position in Corteva in the 4th quarter valued at $31,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of NYSE CTVA opened at $69.07 on Monday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $62.49 and its 200 day moving average price is $61.27. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $69.42. The stock has a market cap of $47.11 billion, a price-to-earnings ratio of 53.54, a PEG ratio of 1.68 and a beta of 0.72.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.98%. Corteva’s dividend payout ratio (DPR) is 41.46%.

Analysts Set New Price Targets

Several research firms have recently commented on CTVA. Citigroup raised their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Morgan Stanley lifted their price target on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, KeyCorp increased their price objective on Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $70.50.

Corteva Company Profile

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.