Oak Thistle LLC Acquires Shares of 10,335 Corteva, Inc. $CTVA

Oak Thistle LLC bought a new position in Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,335 shares of the company’s stock, valued at approximately $699,000.

A number of other large investors have also made changes to their positions in the company. Moody National Bank Trust Division grew its position in Corteva by 2.0% during the 3rd quarter. Moody National Bank Trust Division now owns 22,586 shares of the company’s stock worth $1,527,000 after purchasing an additional 447 shares in the last quarter. Aaron Wealth Advisors LLC boosted its position in shares of Corteva by 8.1% in the third quarter. Aaron Wealth Advisors LLC now owns 7,814 shares of the company’s stock worth $528,000 after buying an additional 587 shares during the period. GAMMA Investing LLC boosted its position in shares of Corteva by 6.2% in the third quarter. GAMMA Investing LLC now owns 18,290 shares of the company’s stock worth $1,237,000 after buying an additional 1,069 shares during the period. Caldwell Trust Co purchased a new position in shares of Corteva during the second quarter valued at $279,000. Finally, Reynders McVeigh Capital Management LLC raised its position in Corteva by 3.8% during the second quarter. Reynders McVeigh Capital Management LLC now owns 5,573 shares of the company’s stock valued at $415,000 after buying an additional 205 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTVA shares. Zacks Research lowered Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Morgan Stanley set a $84.00 price target on shares of Corteva in a research report on Monday, September 15th. Royal Bank Of Canada lowered their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday, October 17th. BNP Paribas Exane increased their target price on shares of Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday. Sixteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $78.21.

Corteva Price Performance

NYSE CTVA opened at $66.39 on Friday. 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 stock has a market capitalization of $44.86 billion, a PE ratio of 28.37, a price-to-earnings-growth ratio of 1.52 and a beta of 0.74. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41. The company has a 50 day moving average price of $64.54 and a two-hundred day moving average price of $69.33.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same quarter in the prior year, the business posted ($0.49) EPS. Corteva’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a $0.18 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.1%. Corteva’s payout ratio is currently 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.