Swiss National Bank Has $154.19 Million Position in Corteva, Inc. $CTVA

Swiss National Bank raised its stake in Corteva, Inc. (NYSE:CTVA) by 6.7% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,068,783 shares of the company’s stock after buying an additional 130,300 shares during the quarter. Swiss National Bank’s holdings in Corteva were worth $154,186,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Personal CFO Solutions LLC increased its stake in shares of Corteva by 8.1% in the second quarter. Personal CFO Solutions LLC now owns 12,731 shares of the company’s stock worth $949,000 after acquiring an additional 953 shares during the last quarter. Terra Nova Asset Management LLC grew its stake in Corteva by 9.3% in the second quarter. Terra Nova Asset Management LLC now owns 3,543 shares of the company’s stock valued at $264,000 after purchasing an additional 300 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in Corteva in the 2nd quarter worth about $1,163,000. Bronte Capital Management Pty Ltd. raised its stake in shares of Corteva by 13.4% during the 2nd quarter. Bronte Capital Management Pty Ltd. now owns 647,820 shares of the company’s stock worth $48,000 after purchasing an additional 76,388 shares in the last quarter. Finally, Miller Financial Services LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research report on Thursday, October 30th. Royal Bank Of Canada decreased their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, October 17th. Zacks Research cut Corteva from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Argus decreased their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a report on Monday, October 13th. Finally, Mizuho cut their target price on shares of Corteva from $85.00 to $78.00 and set an “outperform” rating for the company in a research report on Wednesday, October 8th. Fifteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $78.05.

Insider Activity at Corteva

In related news, EVP Robert D. King sold 37,280 shares of the business’s stock in a transaction on 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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Corteva Price Performance

NYSE:CTVA opened at $65.55 on Friday. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The company has a 50-day moving average of $64.86 and a 200-day moving average of $69.63. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a market capitalization of $44.29 billion, a price-to-earnings ratio of 28.01, a PEG ratio of 1.46 and a beta of 0.81.

Corteva (NYSE:CTVA) last posted 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. The firm had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.49) earnings per share. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

About Corteva

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.