Corteva, Inc. (NYSE:CTVA) Shares Purchased by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,179 shares of the company’s stock after purchasing an additional 1,164 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in Corteva were worth $8,507,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTVA. Capital World Investors boosted its position in shares of Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP boosted its position in shares of Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares in the last quarter. Norges Bank acquired a new stake in shares of Corteva in the 4th quarter worth $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva in the 4th quarter worth $161,052,000. Finally, Franklin Resources Inc. boosted its position in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.6%

CTVA opened at $72.49 on Friday. Corteva, Inc. has a one year low of $50.30 and a one year high of $72.53. The stock has a market capitalization of $49.45 billion, a PE ratio of 56.19, a P/E/G ratio of 1.68 and a beta of 0.75. The business’s 50 day moving average price is $65.20 and its 200 day moving average price is $62.42. 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 quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm had revenue of $4.42 billion for the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price target (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. UBS Group lifted their price target on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research report on Thursday, May 8th. Morgan Stanley lifted 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. Barclays lifted their price target 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, Wells Fargo & Company lifted their price target on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $70.92.

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.