Corteva, Inc. (NYSE:CTVA) Position Lifted by Stanley Capital Management LLC

Stanley Capital Management LLC lifted its position in Corteva, Inc. (NYSE:CTVA) by 0.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 341,700 shares of the company’s stock after purchasing an additional 1,000 shares during the quarter. Corteva comprises about 3.8% of Stanley Capital Management LLC’s holdings, making the stock its 9th biggest holding. Stanley Capital Management LLC’s holdings in Corteva were worth $18,431,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research analyst reports. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company reduced 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. Mizuho lowered their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $61.67.

Corteva Stock Up 0.7 %

CTVA stock opened at $58.00 on Tuesday. The company’s 50 day moving average price is $54.78 and its 200 day moving average price is $54.80. The firm has a market capitalization of $40.42 billion, a price-to-earnings ratio of 73.42, a PEG ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.92. 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 announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 EPS. On average, equities research analysts anticipate that Corteva, Inc. will post 2.69 EPS for the current fiscal year.

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

About Corteva

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.