Pinnacle Associates Ltd. Purchases 681 Shares of Corteva, Inc. (NYSE:CTVA)

Pinnacle Associates Ltd. increased its position in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 2.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,117 shares of the company’s stock after purchasing an additional 681 shares during the period. Pinnacle Associates Ltd.’s holdings in Corteva were worth $1,347,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its position in shares of Corteva by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Geode Capital Management LLC increased its holdings in Corteva by 1.4% in the 1st quarter. Geode Capital Management LLC now owns 14,726,824 shares of the company’s stock valued at $886,490,000 after acquiring an additional 208,948 shares during the last quarter. Northern Trust Corp increased its holdings in Corteva by 2.7% in the 3rd quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after acquiring an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Finally, Morgan Stanley increased its holdings in Corteva by 8.6% in the 4th quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock valued at $555,644,000 after acquiring an additional 746,972 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CTVA. Wolfe Research began coverage on shares of Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock. Mizuho reduced their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $65.00 in a report on Monday, February 12th. Oppenheimer boosted their target price on shares of Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a report on Friday, February 2nd. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.14.

View Our Latest Analysis on Corteva

Corteva Price Performance

Corteva stock opened at $57.68 on Tuesday. The stock has a market cap of $40.31 billion, a price-to-earnings ratio of 56.55, a price-to-earnings-growth ratio of 1.48 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.37. The firm has a 50-day moving average of $53.19 and a two-hundred day moving average of $49.82.

Corteva (NYSE:CTVAGet Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the company earned $0.16 EPS. On average, research analysts forecast that Corteva, Inc. will post 2.87 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.11%. Corteva’s dividend payout ratio (DPR) is 62.75%.

Corteva Company Profile

(Free Report)

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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