Corteva, Inc. $CTVA Shares Purchased by Pacer Advisors Inc.

Pacer Advisors Inc. raised its stake in Corteva, Inc. (NYSE:CTVA) by 4,007.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 2,442,177 shares of the company’s stock after acquiring an additional 2,382,715 shares during the quarter. Pacer Advisors Inc.’s holdings in Corteva were worth $165,164,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after acquiring an additional 11,760 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in shares of Corteva by 1.2% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 47,040 shares of the company’s stock valued at $2,960,000 after purchasing an additional 563 shares during the period. OMERS ADMINISTRATION Corp raised its stake in shares of Corteva by 151.2% during the first quarter. OMERS ADMINISTRATION Corp now owns 73,638 shares of the company’s stock valued at $4,634,000 after purchasing an additional 44,323 shares during the period. Trexquant Investment LP acquired a new position in shares of Corteva during the first quarter worth $6,018,000. Finally, State of Wyoming boosted its stake in shares of Corteva by 34.7% in the first quarter. State of Wyoming now owns 12,145 shares of the company’s stock valued at $764,000 after purchasing an additional 3,128 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTVA shares. The Goldman Sachs Group lifted their price target on shares of Corteva from $77.00 to $78.00 and gave the stock a “buy” rating in a research note on Tuesday, December 16th. Wall Street Zen upgraded Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, December 20th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 target price on the stock in a research report on Thursday, October 2nd. Deutsche Bank Aktiengesellschaft reduced their price target on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Finally, KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Sixteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $78.21.

Corteva Stock Performance

Shares of CTVA stock opened at $67.33 on Friday. The stock has a market capitalization of $45.50 billion, a price-to-earnings ratio of 28.77, a PEG ratio of 1.53 and a beta of 0.74. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company’s 50-day simple moving average is $64.95 and its 200-day simple moving average is $69.21. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The firm had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the firm posted ($0.49) earnings per share. Corteva’s revenue for the quarter was up 6.5% compared to the same quarter last year. Equities analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a dividend of $0.18 per share. The ex-dividend date was Monday, December 1st. This represents a $0.72 annualized dividend and a yield of 1.1%. Corteva’s dividend payout ratio (DPR) is 30.77%.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.