Czech National Bank Has $9.91 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Czech National Bank boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,461 shares of the company’s stock after buying an additional 8,442 shares during the period. Czech National Bank’s holdings in Corteva were worth $9,909,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Capital World Investors lifted its holdings in shares of Corteva by 2,874.6% during the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock worth $729,780,000 after acquiring an additional 12,381,436 shares during the period. Independent Franchise Partners LLP lifted its stake in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the last quarter. Norges Bank bought a new stake in Corteva during the fourth quarter worth $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva in the 4th quarter valued at $161,052,000. Finally, Franklin Resources Inc. increased its stake in shares of Corteva by 9.2% in the 4th quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after purchasing an additional 1,354,418 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of CTVA opened at $70.93 on Tuesday. The business has a 50-day moving average of $63.46 and a 200-day moving average of $61.80. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market capitalization of $48.39 billion, a price-to-earnings ratio of 54.98, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $71.11.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion during the quarter, compared to analyst estimates of $4.56 billion. During the same quarter last year, the business earned $0.89 EPS. The company’s revenue was down 1.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 0.96%. Corteva’s dividend payout ratio (DPR) is currently 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several research analyst reports. Morgan Stanley raised their price objective on Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Oppenheimer restated an “outperform” rating and issued a $75.00 price target (up from $72.00) on shares of Corteva in a research note on Friday, May 9th. Wells Fargo & Company lifted their price target on shares of Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday, May 12th. The Goldman Sachs Group started coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $70.50.

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.