True North Advisors LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

True North Advisors LLC raised its stake in Corteva, Inc. (NYSE:CTVA) by 1.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 60,453 shares of the company’s stock after purchasing an additional 1,105 shares during the quarter. Corteva comprises about 0.9% of True North Advisors LLC’s investment portfolio, making the stock its 19th biggest position. True North Advisors LLC’s holdings in Corteva were worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of CTVA. &PARTNERS grew its holdings in Corteva by 4.3% during the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares in the last quarter. Herr Investment Group LLC grew its stake in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares in the last quarter. Azzad Asset Management Inc. ADV increased its position in shares of Corteva by 0.4% during the second quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after acquiring an additional 203 shares during the last quarter. Albion Financial Group UT boosted its holdings in Corteva by 77.2% in 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, Whittier Trust Co. of Nevada Inc. grew its stake in Corteva by 1.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock valued at $1,037,000 after purchasing an additional 227 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Wells Fargo & Company reduced their price objective 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. KeyCorp dropped their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $65.00 price target on shares of Corteva in a research report on Wednesday, June 12th. Finally, Mizuho lowered their price objective on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, June 18th. One research 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. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $61.94.

Corteva Price Performance

Shares of NYSE:CTVA opened at $56.88 on Wednesday. The firm’s 50 day moving average is $55.45 and its two-hundred day moving average is $55.02. The firm has a market capitalization of $39.64 billion, a P/E ratio of 72.00, a PEG ratio of 1.68 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $59.08.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a positive change from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio is currently 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.