Friedenthal Financial Makes New Investment in Corteva, Inc. $CTVA

Friedenthal Financial acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 13,583 shares of the company’s stock, valued at approximately $919,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Moody National Bank Trust Division raised its position in Corteva by 0.7% in the 2nd quarter. Moody National Bank Trust Division now owns 22,139 shares of the company’s stock valued at $1,650,000 after purchasing an additional 143 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Corteva by 0.8% during the first quarter. Ancora Advisors LLC now owns 18,567 shares of the company’s stock worth $1,168,000 after buying an additional 150 shares during the period. NORTHSTAR ASSET MANAGEMENT Co raised its holdings in Corteva by 2.2% in the second quarter. NORTHSTAR ASSET MANAGEMENT Co now owns 6,940 shares of the company’s stock valued at $517,000 after acquiring an additional 150 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Corteva by 0.5% in the first quarter. NewEdge Advisors LLC now owns 31,455 shares of the company’s stock worth $1,979,000 after acquiring an additional 152 shares during the last quarter. Finally, Empirical Finance LLC grew its holdings in Corteva by 0.6% during the 2nd quarter. Empirical Finance LLC now owns 24,935 shares of the company’s stock worth $1,858,000 after acquiring an additional 153 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $67.09 on Wednesday. The stock’s 50-day moving average is $64.72 and its two-hundred day moving average is $69.23. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The firm has a market cap of $45.33 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 1.52 and a beta of 0.74.

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. The firm 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 business’s revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.49) EPS. Analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Jefferies Financial Group reduced their price objective on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. The Goldman Sachs Group lifted their price target on Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, December 16th. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective on the stock in a report on Thursday, October 2nd. Finally, BMO Capital Markets set a $86.00 target price on Corteva in a research report on Monday, September 15th. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $78.21.

Corteva Company Profile

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.