CreativeOne Wealth LLC Decreases Stock Position in Corteva, Inc. $CTVA

CreativeOne Wealth LLC cut its stake in Corteva, Inc. (NYSE:CTVA) by 86.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,994 shares of the company’s stock after selling 44,176 shares during the period. CreativeOne Wealth LLC’s holdings in Corteva were worth $440,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Nuveen LLC purchased a new position in Corteva in the first quarter valued at $640,333,000. JPMorgan Chase & Co. boosted its holdings in Corteva by 54.6% in the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock valued at $315,219,000 after purchasing an additional 1,769,355 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Corteva by 65.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock valued at $204,615,000 after purchasing an additional 1,290,009 shares during the period. GAMMA Investing LLC boosted its holdings in Corteva by 7,135.6% in the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock valued at $59,644,000 after purchasing an additional 934,690 shares during the period. Finally, Deutsche Bank AG boosted its holdings in Corteva by 21.0% in the fourth quarter. Deutsche Bank AG now owns 4,052,081 shares of the company’s stock valued at $230,807,000 after purchasing an additional 703,761 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Morgan Stanley lifted their target price on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a report on Friday, May 9th. UBS Group raised their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Jefferies Financial Group restated a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Oppenheimer set a $87.00 price target on Corteva and gave the company an “outperform” rating in a research note on Tuesday, July 15th. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Corteva in a research note on Monday, August 11th. Thirteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $80.25.

Corteva Stock Performance

Shares of CTVA stock opened at $74.22 on Monday. The stock’s 50-day moving average is $73.43 and its two-hundred day moving average is $67.51. The firm has a market cap of $50.40 billion, a price-to-earnings ratio of 36.20, a PEG ratio of 1.70 and a beta of 0.78. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The company had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.The business’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.83 earnings per share. Analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. Corteva’s dividend payout ratio is 33.17%.

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.