Fiduciary Alliance LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Fiduciary Alliance LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,641 shares of the company’s stock, valued at approximately $214,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Anomaly Capital Management LP acquired a new position in shares of Corteva in the second quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. boosted its stake in Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares during the period. Bank of New York Mellon Corp boosted its stake in Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the period. Panagora Asset Management Inc. increased its holdings in Corteva by 700.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after purchasing an additional 1,139,297 shares in the last quarter. Finally, Artemis Investment Management LLP acquired a new stake in shares of Corteva in the 1st quarter valued at about $63,238,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of research reports. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Mizuho lowered their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. lowered their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Stock Down 0.8 %

CTVA stock opened at $57.31 on Wednesday. The business’s 50 day simple moving average is $55.89 and its 200 day simple moving average is $55.02. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $59.08. The firm has a market capitalization of $39.94 billion, a PE ratio of 72.54, a PEG ratio of 1.66 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, beating the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 earnings per share. As a group, research analysts anticipate that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

About Corteva

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.