Chicago Capital LLC Raises Stock Position in Corteva, Inc. (NYSE:CTVA)

Chicago Capital LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 14.0% in the first quarter, HoldingsChannel reports. The fund owned 4,897 shares of the company’s stock after purchasing an additional 600 shares during the quarter. Chicago Capital LLC’s holdings in Corteva were worth $308,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price on the stock. Oppenheimer reiterated an “outperform” rating and set a $75.00 price target (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. KeyCorp raised their price objective on Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Finally, Morgan Stanley increased their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $71.83.

Corteva Price Performance

Shares of NYSE CTVA opened at $74.13 on Thursday. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The stock has a market capitalization of $50.57 billion, a price-to-earnings ratio of 45.20, a PEG ratio of 1.90 and a beta of 0.75. The firm’s 50 day simple moving average is $66.53 and its 200-day simple moving average is $62.73. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.84.

Corteva (NYSE:CTVA) last announced its quarterly 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. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given 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 of this dividend was Monday, June 2nd. Corteva’s dividend payout ratio (DPR) 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.