Corteva, Inc. (NYSE:CTVA) Shares Purchased by XTX Topco Ltd

XTX Topco Ltd grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 51.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 28,464 shares of the company’s stock after purchasing an additional 9,681 shares during the quarter. XTX Topco Ltd’s holdings in Corteva were worth $1,535,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC acquired a new stake in Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares in the last quarter. ICA Group Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth $28,000. Finally, Scarborough Advisors LLC acquired a new position in Corteva in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 2.0 %

Shares of CTVA opened at $58.60 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.92. The stock’s 50-day moving average is $54.59 and its two-hundred day moving average is $54.73. 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 stock has a market cap of $40.84 billion, a PE ratio of 74.18, a P/E/G ratio of 1.60 and a beta of 0.77.

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

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. 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 annualized dividend and a yield of 1.16%. Corteva’s payout ratio is 86.08%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Mizuho lowered their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. Finally, Wells Fargo & Company cut their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $61.67.

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.