Ritholtz Wealth Management Grows Stock Holdings in Corteva, Inc. $CTVA

Ritholtz Wealth Management increased its stake in Corteva, Inc. (NYSE:CTVA) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 52,910 shares of the company’s stock after buying an additional 7,382 shares during the period. Ritholtz Wealth Management’s holdings in Corteva were worth $3,578,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in Corteva by 307.2% in the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares in the last quarter. Woodline Partners LP raised its holdings in Corteva by 40.3% in the first quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock worth $3,645,000 after buying an additional 16,644 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Corteva by 18.4% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 2,947 shares of the company’s stock worth $220,000 after buying an additional 457 shares during the last quarter. Fiduciary Alliance LLC grew its holdings in shares of Corteva by 10.1% during the second quarter. Fiduciary Alliance LLC now owns 4,307 shares of the company’s stock valued at $321,000 after buying an additional 394 shares during the last quarter. Finally, Focus Financial Network Inc. increased its position in shares of Corteva by 8.2% during the second quarter. Focus Financial Network Inc. now owns 5,112 shares of the company’s stock valued at $381,000 after acquiring an additional 386 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $69.65 on Friday. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $66.79 and a 200 day moving average price of $68.66. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The stock has a market cap of $47.06 billion, a PE ratio of 29.77, a P/E/G ratio of 1.42 and a beta of 0.74.

Corteva (NYSE:CTVA) last issued its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the company posted ($0.49) earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were issued a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is currently 30.77%.

Analysts Set New Price Targets

CTVA has been the topic of several analyst reports. Rothschild & Co Redburn lowered their price objective on Corteva from $71.00 to $65.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Zacks Research downgraded Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Argus dropped their price objective on Corteva from $83.00 to $80.00 and set a “buy” rating on the stock in a research report on Monday, October 13th. Royal Bank Of Canada lowered their target price on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Corteva in a research report on Monday, December 29th. Sixteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $78.79.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.