Y Intercept Hong Kong Ltd Increases Stake in Corteva, Inc. $CTVA

Y Intercept Hong Kong Ltd boosted its stake in Corteva, Inc. (NYSE:CTVA) by 280.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 70,282 shares of the company’s stock after purchasing an additional 51,819 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Corteva were worth $4,753,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. PGGM Investments increased its stake in Corteva by 68.5% during the 2nd quarter. PGGM Investments now owns 1,223,444 shares of the company’s stock worth $91,183,000 after buying an additional 497,200 shares during the period. TriaGen Wealth Management LLC purchased a new position in Corteva in the 3rd quarter valued at about $4,284,000. New York State Teachers Retirement System grew its stake in shares of Corteva by 4.5% during the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock valued at $37,290,000 after acquiring an additional 23,548 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of Corteva by 43.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,751,157 shares of the company’s stock worth $186,061,000 after acquiring an additional 826,738 shares during the last quarter. Finally, Nordea Investment Management AB increased its position in shares of Corteva by 27.4% during the third quarter. Nordea Investment Management AB now owns 75,675 shares of the company’s stock worth $5,103,000 after acquiring an additional 16,261 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, January 17th. Oppenheimer reissued an “outperform” rating and set a $76.00 price target on shares of Corteva in a research report on Friday, November 7th. JPMorgan Chase & Co. upped their price target on shares of Corteva from $70.00 to $75.00 and gave the company an “overweight” rating in a report on Wednesday, January 21st. Finally, Rothschild & Co Redburn decreased their price objective on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $79.47.

Corteva Stock Performance

CTVA stock opened at $71.68 on Monday. The stock’s 50 day simple moving average is $67.26 and its 200 day simple moving average is $68.35. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The firm has a market cap of $48.44 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.82 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.49) by $0.26. The firm had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.49) earnings per share. As a group, equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.0%. Corteva’s dividend payout ratio is 30.77%.

About Corteva

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.