Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Corteva (NYSE:CTVA) by 5.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 168,597 shares of the company’s stock after selling 8,812 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Corteva were worth $4,517,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Ziegler Capital Management LLC raised its holdings in Corteva by 4.2% in the second quarter. Ziegler Capital Management LLC now owns 9,230 shares of the company’s stock worth $247,000 after buying an additional 368 shares during the last quarter. Louisiana State Employees Retirement System lifted its position in Corteva by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 32,200 shares of the company’s stock valued at $863,000 after acquiring an additional 400 shares in the last quarter. Versant Capital Management Inc boosted its stake in Corteva by 21.8% during the 1st quarter. Versant Capital Management Inc now owns 2,239 shares of the company’s stock valued at $52,000 after purchasing an additional 401 shares during the last quarter. Center for Financial Planning Inc. increased its holdings in shares of Corteva by 63.5% in the 1st quarter. Center for Financial Planning Inc. now owns 1,102 shares of the company’s stock worth $26,000 after purchasing an additional 428 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. raised its stake in shares of Corteva by 0.7% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 60,491 shares of the company’s stock worth $1,621,000 after purchasing an additional 428 shares during the last quarter. 78.10% of the stock is owned by institutional investors and hedge funds.
NYSE:CTVA opened at $28.56 on Friday. The company has a market cap of $21.37 billion and a price-to-earnings ratio of -25.05. Corteva has a 1 year low of $20.38 and a 1 year high of $32.78. The stock’s 50 day simple moving average is $27.38 and its two-hundred day simple moving average is $26.87. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.60 and a quick ratio of 1.12.
Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, May 6th. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.20. Corteva had a negative net margin of 5.91% and a positive return on equity of 5.09%. The firm had revenue of $3.96 billion during the quarter, compared to analyst estimates of $3.56 billion. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, analysts anticipate that Corteva will post 1.35 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, August 14th will be paid a $0.13 dividend. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.82%. Corteva’s payout ratio is currently 36.36%.
Several equities research analysts recently commented on the company. Citigroup lifted their price objective on Corteva from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Friday, May 8th. Vertical Research upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Tuesday, June 16th. Royal Bank of Canada increased their price objective on shares of Corteva from $27.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Monness Crespi & Hardt downgraded shares of Corteva from a “neutral” rating to a “sell” rating and set a $24.00 target price for the company. in a research report on Monday, June 8th. Finally, Bank of America upgraded shares of Corteva from an “underperform” rating to a “buy” rating in a research note on Monday, July 13th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $30.69.
Corteva, Inc provides agriculture products worldwide. The company develops and supplies germplasm and traits in corn, soybean, and sunflower seed markets. It also supplies products to the agricultural input industry that protect against weeds, insects and other pests, and diseases, as well as to enhance crop health.
Further Reading: Net Margin
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