Apella Capital LLC Takes Position in Corteva, Inc. $CTVA

Apella Capital LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,646 shares of the company’s stock, valued at approximately $517,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Brighton Jones LLC raised its stake in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares in the last quarter. Trexquant Investment LP purchased a new stake in Corteva during the 1st quarter worth about $6,018,000. Evergreen Capital Management LLC increased its holdings in Corteva by 10.7% during the 1st quarter. Evergreen Capital Management LLC now owns 8,974 shares of the company’s stock worth $565,000 after purchasing an additional 864 shares during the period. Vident Advisory LLC raised its position in Corteva by 55.3% in the 1st quarter. Vident Advisory LLC now owns 34,077 shares of the company’s stock valued at $2,145,000 after purchasing an additional 12,137 shares in the last quarter. Finally, Baird Financial Group Inc. boosted its stake in shares of Corteva by 0.3% in the 1st quarter. Baird Financial Group Inc. now owns 200,389 shares of the company’s stock valued at $12,610,000 after buying an additional 659 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on CTVA. UBS Group cut their target price on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Jefferies Financial Group reduced their price objective on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Citigroup upgraded shares of Corteva from a “neutral” rating to a “positive” rating in a research note on Thursday, December 18th. Finally, The Goldman Sachs Group raised their price target on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Sixteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Trading Up 0.3%

Shares of Corteva stock opened at $67.65 on Tuesday. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company has a fifty day simple moving average of $65.18 and a 200-day simple moving average of $69.11. The stock has a market cap of $45.71 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 1.53 and a beta of 0.74. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $2.47 billion. During the same period last year, the business earned ($0.49) EPS. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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

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.