638 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by Naples Money Management LLC

Naples Money Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 638 shares of the company’s stock, valued at approximately $31,000.

Several other large investors have also made changes to their positions in the company. Moneta Group Investment Advisors LLC boosted its position in Corteva by 110,628.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after buying an additional 7,897,795 shares in the last quarter. Norges Bank acquired a new stake in Corteva in the fourth quarter valued at approximately $328,936,000. Harris Associates L P acquired a new stake in Corteva in the third quarter valued at approximately $246,423,000. Van ECK Associates Corp boosted its position in Corteva by 78.7% in the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after buying an additional 3,366,106 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Corteva by 283.5% in the second quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock valued at $256,860,000 after buying an additional 3,313,768 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and raised their price target for the company from $57.00 to $65.00 in a research note on Monday, February 12th. KeyCorp raised their price target on shares of Corteva from $63.00 to $66.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a research note on Friday, February 2nd. Wells Fargo & Company raised their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Finally, Mizuho lowered their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.29.

Corteva Stock Up 1.6 %

Shares of NYSE CTVA opened at $54.80 on Friday. The stock has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a P/E/G ratio of 1.41 and a beta of 0.77. The company has a 50-day moving average price of $55.23 and a 200-day moving average price of $50.30. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $62.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the company earned $0.16 earnings per share. On average, equities research analysts forecast that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

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.