Ballentine Partners LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Ballentine Partners LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,432 shares of the company’s stock after buying an additional 564 shares during the period. Ballentine Partners LLC’s holdings in Corteva were worth $1,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Sepio Capital LP lifted its holdings in Corteva by 3.2% during the 4th quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after buying an additional 166 shares during the last quarter. Allred Capital Management LLC lifted its holdings in shares of Corteva by 3.2% in the 4th quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after purchasing an additional 171 shares during the last quarter. NTV Asset Management LLC lifted its holdings in shares of Corteva by 3.3% in the 1st quarter. NTV Asset Management LLC now owns 5,457 shares of the company’s stock valued at $343,000 after purchasing an additional 173 shares during the last quarter. Avantax Planning Partners Inc. lifted its holdings in shares of Corteva by 4.1% in the 1st quarter. Avantax Planning Partners Inc. now owns 4,539 shares of the company’s stock valued at $286,000 after purchasing an additional 178 shares during the last quarter. Finally, PFG Investments LLC lifted its holdings in shares of Corteva by 1.4% in the 1st quarter. PFG Investments LLC now owns 12,867 shares of the company’s stock valued at $810,000 after purchasing an additional 180 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on CTVA shares. Wells Fargo & Company boosted their target price on Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, June 23rd. Citigroup upped their price objective on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. KeyCorp upped their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price objective (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Finally, Morgan Stanley upped their price objective on Corteva from $65.00 to $71.00 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 assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $75.54.

Corteva Price Performance

Shares of NYSE:CTVA opened at $73.50 on Monday. The company’s fifty day moving average is $71.45 and its two-hundred day moving average is $64.70. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $77.41. The company has a market cap of $50.14 billion, a P/E ratio of 44.82, a price-to-earnings-growth ratio of 1.88 and a beta of 0.76.

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

Corteva Announces Dividend

The business also recently disclosed 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 0.93%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva’s dividend payout ratio is currently 41.46%.

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.