Brandes Investment Partners LP Has $174.08 Million Stake in Corteva, Inc. $CTVA

Brandes Investment Partners LP reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 20.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,335,741 shares of the company’s stock after selling 609,739 shares during the quarter. Corteva accounts for 1.6% of Brandes Investment Partners LP’s investment portfolio, making the stock its 18th biggest holding. Brandes Investment Partners LP owned about 0.34% of Corteva worth $174,083,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Moody National Bank Trust Division grew its holdings in shares of Corteva by 0.7% during the second quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after buying an additional 143 shares in the last quarter. Ancora Advisors LLC boosted its position in Corteva by 0.8% during the 1st quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after acquiring an additional 150 shares during the period. NORTHSTAR ASSET MANAGEMENT Co grew its stake in Corteva by 2.2% during the 2nd quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after acquiring an additional 150 shares in the last quarter. NewEdge Advisors LLC grew its stake in Corteva by 0.5% during the 1st quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock valued at $1,979,000 after acquiring an additional 152 shares in the last quarter. Finally, Empirical Finance LLC increased its holdings in shares of Corteva by 0.6% in the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock valued at $1,858,000 after purchasing an additional 153 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $66.57 on Tuesday. The firm has a market cap of $44.99 billion, a price-to-earnings ratio of 28.45, a price-to-earnings-growth ratio of 1.53 and a beta of 0.74. The company’s fifty day moving average is $64.40 and its 200-day moving average is $69.68. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. Corteva’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted ($0.49) earnings per share. Equities analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s dividend payout ratio is currently 30.77%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTVA. Zacks Research cut shares of Corteva from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Wall Street Zen upgraded shares of Corteva from a “hold” rating to a “buy” rating in a research report on Tuesday. Wells Fargo & Company decreased their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Wolfe Research upped their price target on shares of Corteva from $79.00 to $80.00 and gave the stock an “outperform” rating in a research note on Thursday, November 6th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $76.00 price target on shares of Corteva in a research note on Friday, November 7th. Fifteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $78.05.

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.