Benjamin Edwards Inc. Raises Holdings in Corteva, Inc. $CTVA

Benjamin Edwards Inc. boosted its stake in Corteva, Inc. (NYSE:CTVA) by 3.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 709,356 shares of the company’s stock after buying an additional 22,585 shares during the quarter. Benjamin Edwards Inc. owned approximately 0.10% of Corteva worth $47,973,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. SG Americas Securities LLC lifted its position in shares of Corteva by 15.5% in the third quarter. SG Americas Securities LLC now owns 790,563 shares of the company’s stock valued at $53,466,000 after acquiring an additional 105,920 shares in the last quarter. HB Wealth Management LLC raised its stake in Corteva by 9.8% in the 3rd quarter. HB Wealth Management LLC now owns 20,889 shares of the company’s stock valued at $1,413,000 after purchasing an additional 1,859 shares during the last quarter. CX Institutional lifted its holdings in Corteva by 79.3% in the 3rd quarter. CX Institutional now owns 11,062 shares of the company’s stock valued at $748,000 after purchasing an additional 4,893 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Corteva by 21.6% during the 3rd quarter. Park Avenue Securities LLC now owns 32,873 shares of the company’s stock worth $2,223,000 after purchasing an additional 5,837 shares during the last quarter. Finally, Asset Advisors Investment Management LLC boosted its stake in shares of Corteva by 46.6% during the 3rd quarter. Asset Advisors Investment Management LLC now owns 10,075 shares of the company’s stock worth $681,000 after purchasing an additional 3,204 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $68.59 on Thursday. The firm has a fifty day moving average of $65.83 and a 200-day moving average of $68.85. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $46.34 billion, a P/E ratio of 29.31, a PEG ratio of 1.43 and a beta of 0.74.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share 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 firm 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 revenue was up 6.5% on a year-over-year basis. As a group, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were paid a $0.18 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 30.77%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Jefferies Financial Group lowered their target price on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Morgan Stanley set a $84.00 price target on Corteva in a research note on Monday, September 15th. Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $76.00 target price on shares of Corteva in a research note on Friday, November 7th. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $78.21.

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.