Schnieders Capital Management LLC Acquires 719 Shares of Corteva, Inc. (NYSE:CTVA)

Schnieders Capital Management LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 9.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,670 shares of the company’s stock after purchasing an additional 719 shares during the quarter. Schnieders Capital Management LLC’s holdings in Corteva were worth $415,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Corteva by 2.4% during the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after buying an additional 1,941,323 shares during the last quarter. Northern Trust Corp increased its holdings in Corteva by 2.7% during the third quarter. Northern Trust Corp now owns 12,505,783 shares of the company’s stock worth $639,796,000 after buying an additional 327,321 shares during the last quarter. Massachusetts Financial Services Co. MA increased its holdings in Corteva by 29.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after buying an additional 2,545,570 shares during the last quarter. Van ECK Associates Corp raised its position in shares of 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 purchasing an additional 3,366,106 shares during the period. Finally, WCM Investment Management LLC raised its position in shares of Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after purchasing an additional 213,949 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on CTVA. Barclays increased their price objective on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. KeyCorp increased 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. Mizuho dropped their price objective on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. 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 target on the stock. Finally, TheStreet raised shares of Corteva from a “c+” rating to a “b-” rating in a research report on Tuesday, February 27th. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.29.

Corteva Stock Down 0.7 %

NYSE CTVA traded down $0.41 during mid-day trading on Wednesday, hitting $54.77. The company’s stock had a trading volume of 1,811,675 shares, compared to its average volume of 3,559,885. The company’s 50 day simple moving average is $55.26 and its 200 day simple moving average is $50.37. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $38.28 billion, a price-to-earnings ratio of 54.11, a PEG ratio of 1.45 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The firm had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period in the previous year, the firm earned $0.16 EPS. Analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current 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. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) 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.