Mirabella Financial Services LLP Invests $2.15 Million in Corteva, Inc. $CTVA

Mirabella Financial Services LLP purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the second quarter, HoldingsChannel.com reports. The firm purchased 28,863 shares of the company’s stock, valued at approximately $2,151,000.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Corteva by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Corteva by 1.4% during the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares in the last quarter. Franklin Resources Inc. increased its position in Corteva by 4.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after acquiring an additional 824,451 shares during the period. Independent Franchise Partners LLP lifted its holdings in Corteva by 1.8% during the 1st quarter. Independent Franchise Partners LLP now owns 16,785,300 shares of the company’s stock worth $1,056,299,000 after buying an additional 288,792 shares during the period. Finally, Northern Trust Corp boosted its holdings in Corteva by 1.0% in the first quarter. Northern Trust Corp now owns 11,759,755 shares of the company’s stock valued at $740,041,000 after acquiring an additional 110,865 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $66.21 on Friday. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The business has a 50 day moving average price of $64.22 and a 200-day moving average price of $69.61. The company has a market cap of $44.74 billion, a PE ratio of 28.29, a price-to-earnings-growth ratio of 1.48 and a beta of 0.74.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same quarter in the prior year, the company posted ($0.49) earnings per share. Corteva’s revenue 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 Dividend Announcement

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

Analyst Ratings Changes

A number of brokerages have recently issued reports on CTVA. The Goldman Sachs Group dropped their price objective on Corteva from $85.00 to $77.00 and set a “buy” rating on the stock in a research note on Wednesday, October 22nd. KeyCorp restated a “sector weight” rating on shares of Corteva in a research note on Friday, October 3rd. Deutsche Bank Aktiengesellschaft decreased their target price on Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a research report on Thursday, November 6th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price objective for the company in a research note on Thursday, October 2nd. Finally, Mizuho decreased their price objective on Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Corteva 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.