Czech National Bank Grows Stake in Corteva, Inc. (NYSE:CTVA)

Czech National Bank raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 6.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 141,018 shares of the company’s stock after buying an additional 8,202 shares during the period. Czech National Bank’s holdings in Corteva were worth $8,290,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Harris Associates L P raised its stake in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after acquiring an additional 4,194,981 shares in the last quarter. Anomaly Capital Management LP bought a new position in Corteva in the second quarter worth approximately $188,578,000. Vaughan Nelson Investment Management L.P. raised its stake in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after buying an additional 3,254,126 shares in the last quarter. Glenview Capital Management LLC raised its stake in Corteva by 116.6% in the fourth quarter. Glenview Capital Management LLC now owns 4,698,725 shares of the company’s stock worth $225,163,000 after buying an additional 2,529,539 shares in the last quarter. Finally, Eminence Capital LP raised its stake in Corteva by 73.1% in the fourth quarter. Eminence Capital LP now owns 3,796,403 shares of the company’s stock worth $181,924,000 after buying an additional 1,603,058 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.4 %

Shares of Corteva stock opened at $58.33 on Friday. The firm has a 50-day simple moving average of $55.39 and a two-hundred day simple moving average of $55.00. The company has a market cap of $40.65 billion, a P/E ratio of 73.84, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $59.08. 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 issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $6.15 billion. During the same quarter in the prior year, the firm posted $1.60 earnings per share. The company’s revenue was up 1.1% compared to the same quarter last year. As a group, equities analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

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

Analysts Set New Price Targets

Several research firms have issued reports on CTVA. KeyCorp cut their price target 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. 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 report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Mizuho dropped their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

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.