Barrett Asset Management LLC raised its holdings in Corteva, Inc. (NYSE:CTVA – Get Rating) by 22.3% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,854 shares of the company’s stock after buying an additional 702 shares during the quarter. Barrett Asset Management LLC’s holdings in Corteva were worth $221,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. HighTower Advisors LLC increased its holdings in shares of Corteva by 31.1% in the fourth quarter. HighTower Advisors LLC now owns 128,982 shares of the company’s stock valued at $6,101,000 after purchasing an additional 30,565 shares during the period. Panagora Asset Management Inc. increased its holdings in shares of Corteva by 26.7% in the fourth quarter. Panagora Asset Management Inc. now owns 65,124 shares of the company’s stock valued at $3,079,000 after purchasing an additional 13,726 shares during the period. Acadian Asset Management LLC increased its holdings in shares of Corteva by 3,181,600.0% in the fourth quarter. Acadian Asset Management LLC now owns 31,817 shares of the company’s stock valued at $1,501,000 after purchasing an additional 31,816 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of Corteva in the fourth quarter valued at about $6,347,000. Finally, BRYN MAWR TRUST Co increased its holdings in shares of Corteva by 5.4% in the fourth quarter. BRYN MAWR TRUST Co now owns 22,869 shares of the company’s stock valued at $1,082,000 after purchasing an additional 1,180 shares during the period. 79.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts have recently weighed in on CTVA shares. Argus increased their price objective on Corteva from $61.00 to $69.00 and gave the company a “buy” rating in a report on Monday, May 23rd. Deutsche Bank Aktiengesellschaft dropped their target price on Corteva from $72.00 to $68.00 in a report on Monday, August 8th. Mizuho raised their target price on Corteva from $68.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, August 8th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $58.00 to $63.00 in a report on Monday, August 8th. Finally, Citigroup raised their target price on Corteva from $63.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, August 8th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.21.
Corteva Stock Up 0.8 %
Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. Corteva had a return on equity of 7.26% and a net margin of 10.31%. The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the company earned $1.40 earnings per share. Corteva’s quarterly revenue was up 11.6% compared to the same quarter last year. Analysts predict that Corteva, Inc. will post 2.58 earnings per share for the current fiscal year.
Corteva Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, August 12th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Thursday, August 11th. This is an increase from Corteva’s previous quarterly dividend of $0.14. Corteva’s dividend payout ratio (DPR) is 25.32%.
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.
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