Baxter Bros Inc. Boosts Position in Corteva, Inc. (NYSE:CTVA)

Baxter Bros Inc. increased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,576 shares of the company’s stock after acquiring an additional 215 shares during the quarter. Baxter Bros Inc.’s holdings in Corteva were worth $842,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Essex Financial Services Inc. grew its stake in Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after purchasing an additional 215 shares during the period. NewSquare Capital LLC increased its stake in shares of Corteva by 70.6% in the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares in the last quarter. Tradewinds LLC. lifted its position in Corteva by 5.1% during the 3rd quarter. Tradewinds LLC. now owns 4,788 shares of the company’s stock valued at $245,000 after acquiring an additional 231 shares during the period. Jeppson Wealth Management LLC boosted its stake in Corteva by 6.2% during the third quarter. Jeppson Wealth Management LLC now owns 4,300 shares of the company’s stock worth $220,000 after acquiring an additional 250 shares in the last quarter. Finally, Portside Wealth Group LLC grew its holdings in Corteva by 6.3% in the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock worth $215,000 after purchasing an additional 266 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA traded up $0.18 during trading on Friday, hitting $57.16. 2,977,563 shares of the stock traded hands, compared to its average volume of 2,761,026. The company has a market capitalization of $39.95 billion, a P/E ratio of 72.35, a price-to-earnings-growth ratio of 1.50 and a beta of 0.78. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $60.57. The firm has a 50-day simple moving average of $55.37 and a 200-day simple moving average of $50.66. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company posted $1.16 EPS. As a group, analysts predict that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on CTVA. Barclays lifted their price target on Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Canaccord Genuity Group raised their price target on shares of Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday. UBS Group lowered their price objective on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a research report on Thursday, January 11th. Royal Bank of Canada lifted their target price on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price objective (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.38.

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.