1832 Asset Management L.P. Buys 8,536 Shares of Corteva, Inc. $CTVA

1832 Asset Management L.P. lifted its position in Corteva, Inc. (NYSE:CTVA) by 30.2% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 36,757 shares of the company’s stock after purchasing an additional 8,536 shares during the period. 1832 Asset Management L.P.’s holdings in Corteva were worth $2,739,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after acquiring an additional 373,680 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corteva by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after purchasing an additional 251,693 shares during the period. Franklin Resources Inc. increased its position in shares of Corteva by 4.9% during the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after purchasing an additional 824,451 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in Corteva by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock valued at $1,056,299,000 after buying an additional 288,792 shares during the period. Finally, Northern Trust Corp lifted its position in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock worth $740,041,000 after buying an additional 110,865 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.4%

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

Corteva (NYSE:CTVA) last released its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted ($0.49) earnings per share. Equities research analysts expect 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, December 15th. Stockholders of record on Monday, December 1st will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Monday, December 1st. Corteva’s dividend payout ratio is 30.77%.

Analyst Ratings Changes

A number of equities analysts recently commented on CTVA shares. Oppenheimer reaffirmed an “outperform” rating and set a $76.00 price target on shares of Corteva in a research note on Friday, November 7th. Wolfe Research boosted their target price on Corteva from $79.00 to $80.00 and gave the company an “outperform” rating in a research report on Thursday, November 6th. Morgan Stanley set a $84.00 price target on 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. Finally, BMO Capital Markets set a $86.00 price objective on Corteva in a research report on Monday, September 15th. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $78.05.

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.