Tandem Investment Advisors Inc. Invests $216,000 in Corteva, Inc. (NYSE:CTVA)

Tandem Investment Advisors Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 3,675 shares of the company’s stock, valued at approximately $216,000.

Other large investors have also made changes to their positions in the company. Acadian Asset Management LLC bought a new position in Corteva in the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. bought a new stake in Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the 2nd quarter worth $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva during the 2nd quarter worth about $45,000. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on CTVA shares. KeyCorp reduced their price objective on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Wells Fargo & Company reduced their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.21.

Corteva Price Performance

Shares of CTVA opened at $58.64 on Friday. The company’s 50-day moving average is $58.14 and its 200-day moving average is $55.55. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The firm has a market capitalization of $40.59 billion, a PE ratio of 45.11, a PEG ratio of 1.76 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.75.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, November 6th. The company reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of ($0.31) by ($0.18). The company had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.69 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Equities analysts forecast that Corteva, Inc. will post 2.66 EPS for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.16%. Corteva’s payout ratio is currently 52.31%.

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.