Bridgewater Advisors Inc. Increases Holdings in Corteva, Inc. $CTVA

Bridgewater Advisors Inc. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 18.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,184 shares of the company’s stock after purchasing an additional 980 shares during the period. Bridgewater Advisors Inc.’s holdings in Corteva were worth $451,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC boosted its holdings in Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after acquiring an additional 11,760 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Corteva by 3.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,668 shares of the company’s stock worth $3,029,000 after purchasing an additional 1,602 shares during the period. Mutual Advisors LLC boosted its stake in shares of Corteva by 4.7% during the 1st quarter. Mutual Advisors LLC now owns 5,424 shares of the company’s stock valued at $333,000 after purchasing an additional 242 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in shares of Corteva by 9.9% during the first quarter. Capital Investment Advisory Services LLC now owns 5,145 shares of the company’s stock valued at $324,000 after buying an additional 462 shares during the period. Finally, HM Payson & Co. raised its stake in Corteva by 6.2% in the first quarter. HM Payson & Co. now owns 8,712 shares of the company’s stock worth $548,000 after buying an additional 506 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Activity at Corteva

In other news, EVP Robert D. King sold 37,280 shares of the stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the sale, the executive vice president owned 49,262 shares in the company, valued at $3,655,240.40. This represents a 43.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $75.00 to $84.00 in a research report on Wednesday, August 13th. Oppenheimer reduced their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 22nd. Wells Fargo & Company decreased their price objective on Corteva from $83.00 to $80.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. Finally, Jefferies Financial Group decreased their price target on shares of Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Fifteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $79.65.

Corteva Trading Up 0.8%

Corteva stock opened at $61.93 on Tuesday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a market capitalization of $42.06 billion, a price-to-earnings ratio of 30.21, a price-to-earnings-growth ratio of 1.40 and a beta of 0.81. The business’s fifty day simple moving average is $67.29 and its two-hundred day simple moving average is $69.42. The company has a current ratio of 1.68, a quick ratio of 1.23 and a debt-to-equity ratio of 0.06.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The firm had revenue of $6.46 billion during the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%.Corteva’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.83 EPS. As a group, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Shareholders of record on Monday, December 1st will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.2%. Corteva’s payout ratio is 35.12%.

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.