abrdn plc Has $14.53 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

abrdn plc raised its stake in Corteva, Inc. (NYSE:CTVA) by 67.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 303,231 shares of the company’s stock after acquiring an additional 122,359 shares during the quarter. abrdn plc’s holdings in Corteva were worth $14,531,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Wetzel Investment Advisors Inc. acquired a new position in Corteva during the 4th quarter worth $115,000. Naples Money Management LLC acquired a new position in shares of Corteva during the fourth quarter valued at $31,000. Xponance Inc. boosted its holdings in Corteva by 3.8% in the fourth quarter. Xponance Inc. now owns 90,297 shares of the company’s stock valued at $4,327,000 after acquiring an additional 3,284 shares during the last quarter. Goodman Advisory Group LLC increased its position in Corteva by 3.8% in the fourth quarter. Goodman Advisory Group LLC now owns 39,616 shares of the company’s stock worth $1,898,000 after purchasing an additional 1,447 shares during the period. Finally, Keene & Associates Inc. lifted its position in Corteva by 20.6% during the 4th quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock valued at $662,000 after purchasing an additional 2,358 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Stock Down 0.7 %

CTVA stock opened at $54.77 on Thursday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87. The company has a market cap of $38.28 billion, a price-to-earnings ratio of 53.70, a P/E/G ratio of 1.45 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The business has a 50 day moving average price of $55.28 and a two-hundred day moving average price of $50.40.

Corteva (NYSE:CTVA) last released its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The business had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the business earned $0.16 earnings per share. Analysts anticipate that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. Corteva’s payout ratio is 62.75%.

Analyst Ratings Changes

CTVA has been the subject of several recent research reports. Barclays upped their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Royal Bank of Canada raised their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, February 2nd. Finally, BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a research note on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva 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.