DRW Securities LLC Acquires Shares of 7,459 Corteva, Inc. (NYSE:CTVA)

DRW Securities LLC bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 7,459 shares of the company’s stock, valued at approximately $402,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Capital International Investors boosted its stake in Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after acquiring an additional 678,722 shares during the last quarter. Northern Trust Corp lifted its position in shares of Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock worth $614,133,000 after purchasing an additional 310,012 shares during the last quarter. Van ECK Associates Corp grew its stake in Corteva by 7.2% in the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock worth $527,409,000 after purchasing an additional 617,030 shares in the last quarter. Harris Associates L P increased its holdings in Corteva by 87.1% in the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after buying an additional 4,194,981 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in Corteva by 12.9% in the fourth quarter. Putnam Investments LLC now owns 8,950,382 shares of the company’s stock valued at $428,902,000 after buying an additional 1,021,733 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Up 0.7 %

Shares of CTVA stock opened at $58.00 on Tuesday. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.92. The firm has a market capitalization of $40.42 billion, a PE ratio of 73.42, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The stock has a fifty day moving average of $54.78 and a two-hundred day moving average of $54.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period last year, the firm posted $1.60 earnings per share. The business’s revenue was up 1.1% on a year-over-year basis. As a group, research analysts expect that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio (DPR) is 86.08%.

Analysts Set New Price Targets

Several brokerages have recently commented on CTVA. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Mizuho decreased their price objective 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. Wells Fargo & Company lowered their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $61.67.

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.