AIA Group Ltd boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 33.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,583 shares of the company’s stock after buying an additional 892 shares during the period. AIA Group Ltd’s holdings in Corteva were worth $206,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Landmark Wealth Management LLC acquired a new position in shares of Corteva during the first quarter valued at about $47,000. Carl Stuart Investment Advisor Inc. acquired a new position in Corteva during the 1st quarter valued at approximately $28,000. CKW Financial Group raised its holdings in shares of Corteva by 1,083.7% in the first quarter. CKW Financial Group now owns 509 shares of the company’s stock worth $30,000 after buying an additional 466 shares during the last quarter. Sierra Capital LLC lifted its stake in shares of Corteva by 402.9% during the fourth quarter. Sierra Capital LLC now owns 523 shares of the company’s stock worth $25,000 after buying an additional 419 shares during the period. Finally, CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Corteva in the 4th quarter valued at $25,000. 79.46% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several analysts have weighed in on CTVA shares. Mizuho boosted their price target on Corteva from $60.00 to $67.00 in a research note on Friday, April 29th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Corteva from $64.00 to $72.00 in a report on Tuesday, May 31st. Credit Suisse Group started coverage on shares of Corteva in a research note on Thursday, July 14th. They set an “outperform” rating and a $68.00 price objective for the company. JPMorgan Chase & Co. lowered shares of Corteva from an “overweight” rating to a “neutral” rating and set a $58.00 price objective on the stock. in a research note on Friday, May 6th. They noted that the move was a valuation call. Finally, Vertical Research downgraded shares of Corteva from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Thursday, April 14th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.33.
Corteva Price Performance
Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings data on Thursday, August 4th. The company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.47 by $0.17. Corteva had a return on equity of 7.30% and a net margin of 10.31%. The company had revenue of $6.25 billion for the quarter, compared to analyst estimates of $6.09 billion. During the same period last year, the company earned $1.40 earnings per share. Corteva’s quarterly revenue was up 11.6% compared to the same quarter last year. Sell-side analysts predict that Corteva, Inc. will post 2.55 earnings per share for the current fiscal year.
Corteva Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Friday, August 12th will be issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.04%. This is an increase from Corteva’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend is Thursday, August 11th. Corteva’s dividend payout ratio (DPR) is presently 23.63%.
Corteva Company 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.
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