Clarius Group LLC Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Clarius Group LLC raised its holdings in Corteva, Inc. (NYSE:CTVA) by 147.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,742 shares of the company’s stock after buying an additional 5,211 shares during the quarter. Clarius Group 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 also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Corteva by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 79,174,847 shares of the company’s stock valued at $4,509,799,000 after buying an additional 646,459 shares during the period. Independent Franchise Partners LLP grew its holdings in 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 buying an additional 5,604,838 shares during the period. Franklin Resources Inc. grew its holdings in Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after buying an additional 1,354,418 shares during the period. Capital World Investors grew its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after buying an additional 12,381,436 shares during the period. Finally, Northern Trust Corp grew its holdings in shares of Corteva by 5.5% during the 4th quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after purchasing an additional 608,898 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTVA. Citigroup boosted their target price on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. UBS Group boosted their target price on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. The Goldman Sachs Group initiated coverage on Corteva in a report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. Morgan Stanley upped their price target on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Corteva in a report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $71.83.

Corteva Price Performance

Shares of CTVA opened at $74.13 on Thursday. The company has a market cap of $50.57 billion, a P/E ratio of 45.20, a PEG ratio of 1.90 and a beta of 0.75. The stock has a fifty day moving average price of $66.53 and a 200 day moving average price of $62.73. 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, Inc. has a 12 month low of $50.30 and a 12 month high of $74.84.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. The firm had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. On average, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Corteva’s payout ratio is 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.