Corteva, Inc. (NYSE:CTVA) Stake Boosted by Goodman Advisory Group LLC

Goodman Advisory Group LLC increased its holdings in Corteva, Inc. (NYSE:CTVA) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 39,616 shares of the company’s stock after purchasing an additional 1,447 shares during the period. Goodman Advisory Group LLC’s holdings in Corteva were worth $1,898,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Keene & Associates Inc. boosted its holdings in Corteva by 20.6% in the fourth quarter. Keene & Associates Inc. now owns 13,817 shares of the company’s stock worth $662,000 after purchasing an additional 2,358 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Corteva by 1.1% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after acquiring an additional 31,171 shares during the last quarter. Romano Brothers AND Company lifted its position in Corteva by 12.2% during the 4th quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock worth $229,000 after acquiring an additional 518 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in Corteva during the 4th quarter worth $2,041,000. Finally, WCM Investment Management LLC lifted its position in Corteva by 3.1% during the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on CTVA shares. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective for the company in a research report on Friday, February 2nd. KeyCorp upped their price objective on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price objective (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Wolfe Research started coverage on shares of Corteva in a research report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective for the company. Finally, Mizuho cut their price objective on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. Six analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $63.29.

Corteva Price Performance

Shares of CTVA traded down $0.35 during mid-day trading on Wednesday, hitting $53.32. 2,742,839 shares of the company traded hands, compared to its average volume of 2,839,236. The business has a 50-day moving average of $55.20 and a 200 day moving average of $50.22. The stock has a market capitalization of $37.26 billion, a price-to-earnings ratio of 52.28, a PEG ratio of 1.40 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.06. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period last year, the firm posted $0.16 earnings per share. As a group, equities analysts expect that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a yield of 1.20%. Corteva’s dividend payout ratio is currently 62.75%.

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.