Sawtooth Solutions LLC Has $860,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Sawtooth Solutions LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVAGet Rating) by 24.3% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,955 shares of the company’s stock after acquiring an additional 2,921 shares during the quarter. Sawtooth Solutions LLC’s holdings in Corteva were worth $860,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Carl Stuart Investment Advisor Inc. acquired a new stake in Corteva during the 1st quarter worth about $28,000. CKW Financial Group boosted its position in Corteva by 1,083.7% during the 1st quarter. CKW Financial Group now owns 509 shares of the company’s stock worth $30,000 after acquiring an additional 466 shares during the period. Fieldpoint Private Securities LLC boosted its position in Corteva by 106.0% during the 1st quarter. Fieldpoint Private Securities LLC now owns 546 shares of the company’s stock worth $31,000 after acquiring an additional 281 shares during the period. Hazlett Burt & Watson Inc. acquired a new stake in Corteva during the 1st quarter worth about $31,000. Finally, Carolinas Wealth Consulting LLC boosted its position in Corteva by 454.5% during the 1st quarter. Carolinas Wealth Consulting LLC now owns 610 shares of the company’s stock worth $35,000 after acquiring an additional 500 shares during the period. 79.02% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. BMO Capital Markets raised their price target on Corteva from $66.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday. Deutsche Bank Aktiengesellschaft raised their price target on Corteva from $68.00 to $75.00 and gave the stock a “buy” rating in a research note on Thursday. Roth Capital raised Corteva from a “neutral” rating to a “buy” rating and raised their price target for the stock from $67.00 to $74.00 in a research note on Monday, August 8th. Barclays assumed coverage on Corteva in a research note on Wednesday, June 1st. They set an “overweight” rating and a $71.00 price target for the company. Finally, Royal Bank of Canada raised their price target on Corteva from $67.00 to $72.00 and gave the stock an “outperform” rating in a research note on Tuesday, August 9th. One equities research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $68.60.

Corteva Stock Performance

CTVA opened at $62.12 on Friday. The firm has a market capitalization of $44.96 billion, a P/E ratio of 26.21, a price-to-earnings-growth ratio of 1.59 and a beta of 0.68. The stock’s 50 day moving average price is $58.44 and its two-hundred day moving average price is $57.51. The company has a quick ratio of 1.35, a current ratio of 1.88 and a debt-to-equity ratio of 0.05. Corteva, Inc. has a 12-month low of $40.72 and a 12-month high of $64.30.

Corteva (NYSE:CTVAGet Rating) last released its earnings results on Thursday, August 4th. The company reported $1.64 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.17. The firm had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.09 billion. Corteva had a return on equity of 7.26% and a net margin of 10.31%. The company’s revenue was up 11.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.40 EPS. On average, equities analysts forecast that Corteva, Inc. will post 2.58 earnings per share for the current year.

Corteva announced that its Board of Directors has authorized a stock buyback program on Tuesday, September 13th that permits the company to buyback $2.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 4.3% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its shares are undervalued.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Friday, August 12th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Thursday, August 11th. This is a positive change from Corteva’s previous quarterly dividend of $0.14. Corteva’s dividend payout ratio (DPR) is presently 25.32%.

Corteva Company Profile

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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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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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