Goodman Advisory Group LLC Grows Stake in Corteva, Inc. (NYSE:CTVA)

Goodman Advisory Group LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 3.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of CTVA. Moneta Group Investment Advisors LLC increased its stake in Corteva by 110,628.9% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after purchasing an additional 7,897,795 shares in the last quarter. Norges Bank acquired a new stake in Corteva during the 4th quarter valued at $328,936,000. Harris Associates L P acquired a new stake in Corteva during the 3rd quarter valued at $246,423,000. Van ECK Associates Corp grew its holdings in Corteva by 78.7% during the 3rd 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 during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in Corteva by 283.5% during the 2nd 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 during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of analyst reports. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and increased their target price for the company from $57.00 to $65.00 in a report on Monday, February 12th. UBS Group lowered their target price on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Mizuho lowered their target price on Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a report on Thursday, February 1st. Wells Fargo & Company increased their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

Corteva Stock Down 0.7 %

NYSE:CTVA traded down $0.35 during mid-day trading on Wednesday, hitting $53.32. The company had a trading volume of 2,742,839 shares, compared to its average volume of 2,839,236. The business has a fifty day simple moving average of $55.20 and a 200-day simple moving average of $50.22. 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, Inc. has a 1 year low of $43.22 and a 1 year high of $63.06. The firm 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 (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.06 by $0.09. Corteva had a return on equity of 7.43% and a net margin of 4.27%. The company had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period last year, the company posted $0.16 earnings per share. Equities analysts forecast that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.20%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s payout ratio is 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.