Wedmont Private Capital Boosts Position in Corteva, Inc. (NYSE:CTVA)

Wedmont Private Capital grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,913 shares of the company’s stock after buying an additional 205 shares during the quarter. Wedmont Private Capital’s holdings in Corteva were worth $291,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Avidian Wealth Enterprises LLC raised its holdings in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after buying an additional 157 shares during the period. Beacon Capital Management LLC grew its position in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its stake in shares of Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares during the period. Sepio Capital LP lifted its position in shares of Corteva by 3.2% during the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after purchasing an additional 166 shares in the last quarter. Finally, Allred Capital Management LLC boosted its stake in shares of Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after purchasing an additional 171 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on CTVA shares. Morgan Stanley boosted their price objective on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. KeyCorp raised their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target for the company in a report on Monday, March 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research note on Friday, June 6th. Finally, Wells Fargo & Company upped their target price on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research report on Monday, May 12th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.50.

Corteva Trading Up 0.7%

Shares of CTVA opened at $72.04 on Thursday. The stock has a fifty day moving average price of $64.86 and a two-hundred day moving average price of $62.37. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a market cap of $49.15 billion, a price-to-earnings ratio of 55.85, a PEG ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a 52-week low of $50.30 and a 52-week high of $72.40.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.89 EPS. Analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Friday, May 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.68 annualized dividend and a yield of 0.94%. Corteva’s dividend payout ratio is currently 41.46%.

Corteva Company 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.