Garner Asset Management Corp Purchases 501 Shares of Corteva, Inc. (NYSE:CTVA)

Garner Asset Management Corp lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,535 shares of the company’s stock after buying an additional 501 shares during the quarter. Garner Asset Management Corp’s holdings in Corteva were worth $838,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of CTVA. Redmont Wealth Advisors LLC bought a new stake in shares of Corteva in the 1st quarter valued at $25,000. Acadian Asset Management LLC bought a new stake in Corteva in the first quarter valued at $25,000. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the period. ICA Group Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth $28,000. Finally, Scarborough Advisors LLC bought a new position in Corteva during the 4th quarter valued at $29,000. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on CTVA shares. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. JPMorgan Chase & Co. dropped their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company reduced their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Mizuho dropped their price target on Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $61.67.

Corteva Trading Up 0.7 %

Shares of CTVA opened at $57.44 on Thursday. The firm’s 50 day simple moving average is $54.47 and its 200 day simple moving average is $54.71. The company has a market capitalization of $40.03 billion, a P/E ratio of 72.71, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. During the same quarter in the prior year, the firm earned $1.60 earnings per share. The firm’s revenue was up 1.1% on a year-over-year basis. Sell-side analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. Corteva’s payout ratio is presently 86.08%.

Corteva 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.