Mission Wealth Management LP Has $850,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Mission Wealth Management LP grew its position in Corteva, Inc. (NYSE:CTVA) by 149.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 13,501 shares of the company’s stock after acquiring an additional 8,084 shares during the period. Mission Wealth Management LP’s holdings in Corteva were worth $850,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Capital World Investors lifted its holdings in Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after acquiring an additional 12,381,436 shares in the last quarter. Independent Franchise Partners LLP grew 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 valued at $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank bought a new stake in Corteva during the 4th quarter worth approximately $251,892,000. Raymond James Financial Inc. bought a new stake in Corteva during the 4th quarter worth approximately $161,052,000. Finally, Franklin Resources Inc. raised its holdings in Corteva by 9.2% during the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock worth $919,507,000 after buying an additional 1,354,418 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CTVA. UBS Group upped their price target on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Morgan Stanley lifted their target price on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They set a “buy” rating and a $71.00 price target for the company. Barclays boosted their price objective on shares of 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 increased their price objective on shares of Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $70.92.

Corteva Trading Up 0.0%

CTVA stock opened at $74.22 on Wednesday. Corteva, Inc. has a one year low of $50.30 and a one year high of $74.63. The stock has a market cap of $50.63 billion, a price-to-earnings ratio of 45.26, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75. The company has a fifty day moving average price of $66.22 and a two-hundred day moving average price of $62.65. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a net margin of 6.77% and a return on equity of 7.84%. Corteva’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company posted $0.89 EPS. Equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date was Monday, June 2nd. Corteva’s dividend payout ratio is presently 41.46%.

Corteva 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.