Azzad Asset Management Inc. ADV Has $3.17 Million Stake in Corteva, Inc. (NYSE:CTVA)

Azzad Asset Management Inc. ADV lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,441 shares of the company’s stock after purchasing an additional 282 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Corteva were worth $3,174,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of CTVA. Avidian Wealth Enterprises LLC raised its stake in shares of Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after buying an additional 157 shares during the period. Beacon Capital Management LLC raised its stake in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after buying an additional 158 shares during the period. Lake Street Advisors Group LLC raised its stake in shares of Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after buying an additional 160 shares during the period. Sepio Capital LP raised its stake in shares of Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock worth $305,000 after buying an additional 166 shares during the period. Finally, Allred Capital Management LLC raised its stake in shares of Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock worth $310,000 after buying an additional 171 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a research note on Monday, May 12th. UBS Group raised their price objective on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a research note on Thursday, May 8th. Argus upgraded Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research report on Monday, March 31st. The Goldman Sachs Group started coverage on Corteva in a research report on Thursday, March 13th. They set a “buy” rating and a $71.00 target price for the company. Finally, Jefferies Financial Group reiterated a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $70.92.

Corteva Stock Performance

NYSE CTVA opened at $72.36 on Friday. The stock has a market capitalization of $49.36 billion, a PE ratio of 56.09, a P/E/G ratio of 1.68 and a beta of 0.75. The business has a 50 day simple moving average of $65.54 and a two-hundred day simple moving average of $62.49. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $72.91.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.89 EPS. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s dividend payout ratio (DPR) is 41.46%.

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.