Swedbank AB Buys 35,038 Shares of Corteva, Inc. $CTVA

Swedbank AB lifted its stake in Corteva, Inc. (NYSE:CTVA) by 5.0% during the 1st quarter, Holdings Channel reports. The firm owned 730,679 shares of the company’s stock after acquiring an additional 35,038 shares during the period. Swedbank AB’s holdings in Corteva were worth $45,982,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Nuveen LLC bought a new position in Corteva during the first quarter worth about $640,333,000. JPMorgan Chase & Co. lifted its holdings in Corteva by 54.6% during the first quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after acquiring an additional 1,769,355 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Corteva by 65.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,251,449 shares of the company’s stock worth $204,615,000 after acquiring an additional 1,290,009 shares in the last quarter. GAMMA Investing LLC lifted its holdings in Corteva by 7,135.6% during the first quarter. GAMMA Investing LLC now owns 947,789 shares of the company’s stock worth $59,644,000 after acquiring an additional 934,690 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Corteva by 0.8% during the first quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after acquiring an additional 639,799 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Corteva news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction that occurred on Friday, August 29th. The stock was sold at an average price of $74.20, for a total transaction of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares of the company’s stock, valued at $3,655,240.40. The trade was a 43.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CTVA shares. BMO Capital Markets lifted their target price on Corteva from $74.00 to $86.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Wells Fargo & Company reiterated an “overweight” rating and set a $83.00 target price (up from $82.00) on shares of Corteva in a report on Friday, August 8th. UBS Group lifted their price target on Corteva from $90.00 to $91.00 and gave the company a “buy” rating in a research note on Thursday, August 7th. KeyCorp lifted 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. Finally, Barclays raised Corteva from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $75.00 to $84.00 in a research note on Wednesday, August 13th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $80.25.

Corteva Price Performance

NYSE:CTVA opened at $75.07 on Friday. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68. The stock’s 50-day simple moving average is $73.03 and its 200 day simple moving average is $68.11. The company has a market cap of $50.98 billion, a P/E ratio of 36.62, a P/E/G ratio of 1.67 and a beta of 0.78. Corteva, Inc. has a 52-week low of $53.40 and a 52-week high of $77.41.

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

Corteva Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. This is a boost from Corteva’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is presently 35.12%.

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.