Creative Planning Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Creative Planning boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 139,342 shares of the company’s stock after purchasing an additional 1,784 shares during the quarter. Creative Planning’s holdings in Corteva were worth $8,192,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. AdvisorNet Financial Inc boosted its stake in Corteva by 23.6% during the 1st quarter. AdvisorNet Financial Inc now owns 4,644 shares of the company’s stock valued at $268,000 after acquiring an additional 887 shares during the last quarter. Brookstone Capital Management bought a new position in shares of Corteva during the first quarter worth about $204,000. GoalVest Advisory LLC acquired a new position in Corteva in the first quarter worth about $49,000. Wealthcare Advisory Partners LLC increased its holdings in Corteva by 20.0% in the first quarter. Wealthcare Advisory Partners LLC now owns 6,435 shares of the company’s stock valued at $371,000 after buying an additional 1,074 shares during the last quarter. Finally, Janiczek Wealth Management LLC raised its stake in Corteva by 27.1% during the first quarter. Janiczek Wealth Management LLC now owns 2,252 shares of the company’s stock valued at $130,000 after buying an additional 480 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA opened at $60.79 on Thursday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $60.88. The firm has a market capitalization of $42.37 billion, a PE ratio of 76.95, a P/E/G ratio of 1.66 and a beta of 0.77. The firm has a 50-day moving average price of $56.84 and a 200 day moving average price of $55.13. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last posted 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 business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same quarter last year, the business earned $1.60 earnings per share. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.66 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 $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s dividend payout ratio is 86.08%.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Finally, Citigroup assumed coverage on shares of Corteva in a report on Wednesday. They issued a “buy” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.50.

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.