CX Institutional Has $385,000 Stake in Corteva, Inc. (NYSE:CTVA)

CX Institutional boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 34.2% in the first quarter, HoldingsChannel reports. The firm owned 6,123 shares of the company’s stock after purchasing an additional 1,560 shares during the period. CX Institutional’s holdings in Corteva were worth $385,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC acquired a new position in shares of Corteva during the 4th quarter valued at $25,000. Noble Wealth Management PBC acquired a new position in shares of Corteva during the fourth quarter valued at about $26,000. Pinney & Scofield Inc. acquired a new stake in shares of Corteva in the 4th quarter valued at about $27,000. LGT Financial Advisors LLC bought a new stake in Corteva in the 4th quarter valued at about $31,000. Finally, Centricity Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth approximately $34,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Oppenheimer restated an “outperform” rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Barclays increased their price target on Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Citigroup increased their price target on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 31st. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $70.92.

Corteva Stock Performance

NYSE:CTVA opened at $72.36 on Friday. The business has a 50 day moving average of $65.54 and a 200 day moving average of $62.49. The company 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 1-year low of $50.30 and a 1-year 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 quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share 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 firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors 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 payout ratio is 41.46%.

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.