McKinley Carter Wealth Services Inc. Grows Holdings in Corteva, Inc. (NYSE:CTVA)

McKinley Carter Wealth Services Inc. increased its position in Corteva, Inc. (NYSE:CTVA) by 3.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,557 shares of the company’s stock after purchasing an additional 226 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Corteva were worth $476,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Avidian Wealth Enterprises LLC lifted its stake in shares of Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares during the period. Beacon Capital Management LLC grew its holdings in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares in the last quarter. Sepio Capital LP grew its holdings in Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after buying an additional 166 shares in the last quarter. Finally, Allred Capital Management LLC boosted its position in shares of Corteva by 3.2% during the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after acquiring an additional 171 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $72.04 on Thursday. The firm has a market cap of $49.15 billion, a P/E ratio of 55.85, a P/E/G ratio of 1.68 and a beta of 0.75. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $72.40. The stock’s fifty day moving average price is $64.86 and its 200-day moving average price is $62.37.

Corteva (NYSE:CTVA) last posted its 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 return on equity of 7.19% and a net margin of 5.36%. The company had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the previous year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 yield of 0.94%. Corteva’s dividend payout ratio (DPR) is presently 41.46%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on CTVA shares. Morgan Stanley raised their price target on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Citigroup lifted their target price on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Wells Fargo & Company lifted their target price on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Barclays lifted their target price on Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Finally, UBS Group lifted their target price on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.