Corteva, Inc. (NYSE:CTVA) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,414 shares of the company’s stock after acquiring an additional 1,956 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Corteva were worth $844,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Scissortail Wealth Management LLC raised its position in shares of Corteva by 72,080.0% during the 4th quarter. Scissortail Wealth Management LLC now owns 3,609 shares of the company’s stock valued at $206,000 after acquiring an additional 3,604 shares in the last quarter. Allworth Financial LP increased its stake in Corteva by 11.8% during the first quarter. Allworth Financial LP now owns 15,313 shares of the company’s stock valued at $945,000 after purchasing an additional 1,614 shares during the last quarter. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% during the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock worth $888,000 after purchasing an additional 11,760 shares during the period. Farther Finance Advisors LLC lifted its position in shares of Corteva by 13.9% in the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock worth $279,000 after buying an additional 536 shares during the last quarter. Finally, Valeo Financial Advisors LLC boosted its holdings in shares of Corteva by 35.9% in the 1st quarter. Valeo Financial Advisors LLC now owns 13,384 shares of the company’s stock valued at $841,000 after buying an additional 3,535 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA opened at $71.94 on Thursday. The firm has a market capitalization of $49.08 billion, a PE ratio of 43.87, a P/E/G ratio of 1.76 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The firm has a 50-day moving average price of $73.04 and a 200 day moving average price of $66.03. Corteva, Inc. has a 52-week low of $50.30 and a 52-week high of $77.41.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period last year, the firm posted $0.89 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.00%. Corteva’s dividend payout ratio (DPR) is 41.46%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTVA. Morgan Stanley increased their price objective on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Barclays increased their price target on Corteva from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Monday, July 7th. Jefferies Financial Group reissued a “buy” rating on shares of Corteva in a report on Friday, June 6th. Oppenheimer set a $87.00 price objective on Corteva and gave the stock an “outperform” rating in a research note on Tuesday, July 15th. Finally, Citigroup raised their target price on Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $77.38.

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.