Corteva, Inc. (NYSE:CTVA) Shares Purchased by Azimuth Capital Investment Management LLC

Azimuth Capital Investment Management LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 132,351 shares of the company’s stock after buying an additional 5,425 shares during the quarter. Azimuth Capital Investment Management LLC’s holdings in Corteva were worth $8,329,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in Corteva by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 79,814,646 shares of the company’s stock worth $5,022,736,000 after purchasing an additional 639,799 shares during the period. Capital World Investors lifted its stake in shares of Corteva by 2,874.6% during the fourth quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after purchasing an additional 12,381,436 shares in the last quarter. Northern Trust Corp boosted its position in shares of Corteva by 5.5% in the fourth quarter. Northern Trust Corp now owns 11,648,890 shares of the company’s stock worth $663,521,000 after buying an additional 608,898 shares during the period. Nuveen LLC purchased a new stake in shares of Corteva in the first quarter worth about $640,333,000. Finally, WCM Investment Management LLC grew its stake in shares of Corteva by 1.4% in the first quarter. WCM Investment Management LLC now owns 6,978,187 shares of the company’s stock valued at $426,088,000 after buying an additional 98,770 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of several recent research reports. Citigroup boosted their price target on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. UBS Group boosted their target price on shares of Corteva from $90.00 to $91.00 and gave the stock a “buy” rating in a research report on Thursday, August 7th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Corteva in a report on Monday. Oppenheimer set a $87.00 price target on shares of Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, BMO Capital Markets upped their price objective on shares of Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research report on Tuesday, July 8th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $80.25.

Corteva Stock Performance

Shares of Corteva stock opened at $71.87 on Friday. The firm’s 50-day simple moving average is $73.35 and its 200-day simple moving average is $66.74. Corteva, Inc. has a 1 year low of $52.39 and a 1 year high of $77.41. The firm has a market cap of $48.81 billion, a PE ratio of 35.06, a price-to-earnings-growth ratio of 1.66 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.23 and a current ratio of 1.68.

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

Corteva Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.18 dividend. The ex-dividend date is Tuesday, September 2nd. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva’s dividend payout ratio (DPR) is 33.17%.

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.