Corteva, Inc. (NYSE:CTVA) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,387 shares of the company’s stock after purchasing an additional 536 shares during the quarter. Farther Finance Advisors LLC’s holdings in Corteva were worth $279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CTVA. Flagship Wealth Advisors LLC purchased a new stake in Corteva during the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in Corteva during the fourth quarter worth $26,000. Pinney & Scofield Inc. purchased a new stake in Corteva during the fourth quarter worth $27,000. LGT Financial Advisors LLC purchased a new stake in Corteva during the fourth quarter worth $31,000. Finally, Centricity Wealth Management LLC purchased a new stake in Corteva during the fourth quarter worth $34,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $74.13 on Thursday. The firm has a market capitalization of $50.57 billion, a PE ratio of 45.20, a P/E/G ratio of 1.90 and a beta of 0.75. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.44 and a quick ratio of 1.00. The business has a 50-day moving average of $66.53 and a two-hundred day moving average of $62.73. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.84.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm’s revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 earnings per share. As a group, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.92%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

Analyst Ratings Changes

A number of research firms have commented on CTVA. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. Citigroup upped their price objective on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Friday, May 9th. Morgan Stanley upped their price objective on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. Finally, Barclays upped their price objective on Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Three research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.83.

Corteva Company 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.