Corteva, Inc. $CTVA Shares Purchased by 1832 Asset Management L.P.

1832 Asset Management L.P. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 30.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,757 shares of the company’s stock after acquiring an additional 8,536 shares during the quarter. 1832 Asset Management L.P.’s holdings in Corteva were worth $2,739,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its stake in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Harbour Investments Inc. boosted its position in Corteva by 34.6% in the 1st quarter. Harbour Investments Inc. now owns 2,409 shares of the company’s stock valued at $152,000 after buying an additional 619 shares during the last quarter. Vanguard Group Inc. boosted its position in Corteva by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock valued at $5,022,736,000 after buying an additional 639,799 shares during the last quarter. Exencial Wealth Advisors LLC acquired a new stake in shares of Corteva during the first quarter valued at about $212,000. Finally, Citizens Financial Group Inc. RI increased its position in shares of Corteva by 5.5% during the first quarter. Citizens Financial Group Inc. RI now owns 17,643 shares of the company’s stock worth $1,110,000 after acquiring an additional 919 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent research reports. Jefferies Financial Group cut their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Citigroup increased their price target on Corteva from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, November 6th. Wells Fargo & Company reduced their price objective on Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. The Goldman Sachs Group lowered their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating for the company in a research note on Wednesday, October 22nd. Finally, BNP Paribas Exane raised their target price on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research note on Monday, November 17th. Fifteen 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 company has a consensus rating of “Moderate Buy” and an average target price of $78.05.

Corteva Trading Down 0.4%

Shares of NYSE:CTVA opened at $65.99 on Friday. The business’s 50 day simple moving average is $64.18 and its 200 day simple moving average is $69.59. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.58 and a quick ratio of 1.07. The company has a market capitalization of $44.59 billion, a P/E ratio of 28.20, a P/E/G ratio of 1.50 and a beta of 0.74.

Corteva (NYSE:CTVA) last released 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. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the prior year, the company earned ($0.49) EPS. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

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.