3,807 Shares in Corteva, Inc. (NYSE:CTVA) Bought by GAMMA Investing LLC

GAMMA Investing LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 3,807 shares of the company’s stock, valued at approximately $173,000.

Several other institutional investors and hedge funds have also bought and sold shares of CTVA. Vanguard Group Inc. lifted its stake in shares of Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after buying an additional 1,941,323 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Corteva by 2.7% in the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock valued at $639,796,000 after buying an additional 327,321 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Corteva by 29.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after buying an additional 2,545,570 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after buying an additional 3,366,106 shares in the last quarter. Finally, WCM Investment Management LLC lifted its stake in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after buying an additional 213,949 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of several analyst reports. BNP Paribas upgraded shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price for the company in a report on Friday, February 2nd. UBS Group lowered their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a report on Thursday, January 11th. Oppenheimer increased their target price on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Mizuho lowered their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. Finally, Wells Fargo & Company raised their price objective on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Price Performance

CTVA opened at $54.92 on Friday. The firm has a 50-day moving average price of $55.28 and a 200-day moving average price of $50.46. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87. The company has a market capitalization of $38.38 billion, a price-to-earnings ratio of 53.84, a PEG ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion during the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the business earned $0.16 earnings per share. Equities analysts expect that Corteva, Inc. will post 2.84 EPS for the current year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s payout ratio is presently 62.75%.

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.