AlphaQuest LLC Has $2.59 Million Stake in Corteva, Inc. $CTVA

AlphaQuest LLC boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 78.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,229 shares of the company’s stock after purchasing an additional 16,850 shares during the period. AlphaQuest LLC’s holdings in Corteva were worth $2,585,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Chilton Capital Management LLC lifted its holdings in shares of Corteva by 18.1% during the 3rd quarter. Chilton Capital Management LLC now owns 445,350 shares of the company’s stock worth $30,119,000 after acquiring an additional 68,380 shares during the period. TriaGen Wealth Management LLC acquired a new position in Corteva in the third quarter worth about $4,284,000. New York State Teachers Retirement System lifted its stake in Corteva by 4.5% during the third quarter. New York State Teachers Retirement System now owns 551,389 shares of the company’s stock worth $37,290,000 after purchasing an additional 23,548 shares during the period. Assenagon Asset Management S.A. lifted its stake in Corteva by 43.0% during the third quarter. Assenagon Asset Management S.A. now owns 2,751,157 shares of the company’s stock worth $186,061,000 after purchasing an additional 826,738 shares during the period. Finally, Nordea Investment Management AB boosted its holdings in Corteva by 27.4% during the third quarter. Nordea Investment Management AB now owns 75,675 shares of the company’s stock valued at $5,103,000 after purchasing an additional 16,261 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CTVA shares. Oppenheimer raised their target price on Corteva from $76.00 to $78.00 and gave the stock an “outperform” rating in a research report on Tuesday. Zacks Research raised Corteva from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 22nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. BNP Paribas Exane boosted their target price on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a report on Monday, November 17th. Finally, Mizuho lifted their price target on Corteva from $78.00 to $80.00 and gave the company an “outperform” rating in a report on Friday, January 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $79.58.

Corteva Trading Down 1.4%

Shares of CTVA opened at $72.80 on Friday. The stock’s fifty day simple moving average is $68.11 and its 200-day simple moving average is $68.40. The firm has a market capitalization of $49.19 billion, a PE ratio of 31.11, a price-to-earnings-growth ratio of 1.88 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 quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Tuesday, November 4th. The company reported ($0.23) earnings per share 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 firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same period in the previous year, the business posted ($0.49) EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, research analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date is Monday, March 2nd. Corteva’s dividend 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.