IFM Investors Pty Ltd Has $8.74 Million Holdings in Corteva, Inc. $CTVA

IFM Investors Pty Ltd lessened its stake in Corteva, Inc. (NYSE:CTVA) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 138,855 shares of the company’s stock after selling 1,774 shares during the quarter. IFM Investors Pty Ltd’s holdings in Corteva were worth $8,738,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinney & Scofield Inc. acquired a new position in Corteva in the fourth quarter valued at about $27,000. Valley National Advisers Inc. raised its stake in Corteva by 85.9% in the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares in the last quarter. Richardson Capital Management LLC acquired a new position in Corteva in the first quarter valued at about $37,000. von Borstel & Associates Inc. acquired a new position in Corteva in the first quarter valued at about $44,000. Finally, Horizon Financial Services LLC raised its stake in Corteva by 4,444.4% in the first quarter. Horizon Financial Services LLC now owns 818 shares of the company’s stock valued at $51,000 after purchasing an additional 800 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other Corteva news, EVP Robert D. King sold 37,280 shares of the company’s stock in a transaction dated Friday, August 29th. The stock was sold at an average price of $74.20, for a total value of $2,766,176.00. Following the completion of the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. This represents a 43.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by insiders.

Corteva Price Performance

Shares of CTVA opened at $71.79 on Thursday. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The business has a 50-day simple moving average of $73.16 and a two-hundred day simple moving average of $67.96. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. The stock has a market cap of $48.75 billion, a PE ratio of 35.02, a PEG ratio of 1.66 and a beta of 0.78.

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

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is currently 35.12%.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of analyst reports. KeyCorp boosted their price target on Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, August 8th. UBS Group raised their price objective on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. Wall Street Zen raised Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, August 9th. Zacks Research raised Corteva to a “hold” rating in a research note on Friday, August 8th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and issued a $83.00 price objective (up from $82.00) on shares of Corteva in a research note on Friday, August 8th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

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.