Creative Planning Has $8.19 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Creative Planning boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 139,342 shares of the company’s stock after buying an additional 1,784 shares during the period. Creative Planning’s holdings in Corteva were worth $8,192,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTVA. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the 1st quarter worth about $25,000. Acadian Asset Management LLC acquired a new stake in shares of Corteva during the first quarter worth approximately $25,000. Albion Financial Group UT grew its position in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Cultivar Capital Inc. acquired a new position in Corteva in the 2nd quarter valued at approximately $34,000. Finally, Redwood Wealth Management Group LLC purchased a new stake in Corteva in the 2nd quarter worth approximately $43,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

CTVA opened at $60.79 on Thursday. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The stock’s 50 day moving average price is $56.84 and its two-hundred day moving average price is $55.13. The firm has a market capitalization of $42.37 billion, a P/E ratio of 76.95, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $60.88.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Corteva’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company posted $1.60 earnings per share. On average, equities analysts forecast that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on CTVA shares. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Citigroup initiated coverage on Corteva in a research note on Wednesday. They set a “buy” rating and a $68.00 price target for the company. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Finally, KeyCorp decreased their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $62.50.

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.