GAMMA Investing LLC Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

GAMMA Investing LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 50.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,029 shares of the company’s stock after purchasing an additional 3,705 shares during the period. GAMMA Investing LLC’s holdings in Corteva were worth $648,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva during the first quarter valued at approximately $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva during the first quarter valued at approximately $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 last quarter. Albion Financial Group UT raised its holdings in shares of Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. grew its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Mizuho reduced 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. Wells Fargo & Company lowered their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Stock Down 1.0 %

Shares of CTVA opened at $56.88 on Wednesday. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of 72.00, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $59.08. The business’s 50 day simple moving average is $55.43 and its 200-day simple moving average is $55.00. 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 issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm earned $1.60 EPS. As a group, equities analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio is 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.