Corteva, Inc. (NYSE:CTVA) Shares Acquired by Simon Quick Advisors LLC

Simon Quick Advisors LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 33.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,744 shares of the company’s stock after purchasing an additional 2,191 shares during the period. Simon Quick Advisors LLC’s holdings in Corteva were worth $550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Flagship Wealth Advisors LLC purchased a new position in Corteva during the fourth quarter worth about $25,000. Noble Wealth Management PBC purchased a new position in Corteva during the fourth quarter worth about $26,000. Pinney & Scofield Inc. purchased a new position in Corteva during the fourth quarter worth about $27,000. LGT Financial Advisors LLC purchased a new position in Corteva during the fourth quarter worth about $31,000. Finally, Centricity Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter valued at approximately $34,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of Corteva stock opened at $72.36 on Friday. The firm’s fifty day simple moving average is $65.54 and its 200-day simple moving average is $62.49. The stock has a market capitalization of $49.36 billion, a price-to-earnings ratio of 56.09, a PEG ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $72.91. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

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

Corteva Announces Dividend

The firm also recently announced 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 0.94%. Corteva’s payout ratio is 41.46%.

Analysts Set New Price Targets

Several research firms have recently commented on CTVA. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Citigroup raised their price objective on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective for the company in a research note on Monday, March 31st. Oppenheimer reissued an “outperform” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Finally, KeyCorp raised their price objective on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.92.

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.