Apella Capital LLC Invests $517,000 in Corteva, Inc. $CTVA

Apella Capital LLC acquired a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 7,646 shares of the company’s stock, valued at approximately $517,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Corteva by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares during the last quarter. Geode Capital Management LLC lifted its position in Corteva by 1.4% during the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after buying an additional 251,693 shares in the last quarter. Franklin Resources Inc. boosted its stake in Corteva by 4.9% during the second quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock worth $1,317,708,000 after buying an additional 824,451 shares during the last quarter. WCM Investment Management LLC grew its holdings in Corteva by 29.6% in the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after buying an additional 2,066,519 shares in the last quarter. Finally, Norges Bank purchased a new stake in Corteva in the 2nd quarter valued at $434,220,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on CTVA. Wells Fargo & Company lowered their price target on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Zacks Research lowered shares of Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Finally, BNP Paribas Exane upped their price objective on Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Sixteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Stock Performance

NYSE:CTVA opened at $67.65 on Tuesday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The stock has a market capitalization of $45.71 billion, a P/E ratio of 28.91, a PEG ratio of 1.53 and a beta of 0.74. The company has a 50 day moving average price of $65.18 and a 200 day moving average price of $69.11. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41.

Corteva (NYSE:CTVA) last announced its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the previous year, the company earned ($0.49) earnings per share. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.