Venture Visionary Partners LLC Raises Stock Position in Corteva, Inc. $CTVA

Venture Visionary Partners LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.3% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,072 shares of the company’s stock after purchasing an additional 246 shares during the quarter. Venture Visionary Partners LLC’s holdings in Corteva were worth $697,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Cary Street Partners Financial LLC increased its position in Corteva by 20.7% during the 1st quarter. Cary Street Partners Financial LLC now owns 90,206 shares of the company’s stock valued at $5,677,000 after purchasing an additional 15,448 shares during the period. Scissortail Wealth Management LLC increased its position in 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 purchasing an additional 3,604 shares during the period. Allworth Financial LP increased its position in Corteva by 11.8% during the 1st 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 period. Brighton Jones LLC increased its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. Finally, Farther Finance Advisors LLC increased its position in Corteva by 13.9% during the 1st quarter. Farther Finance Advisors LLC now owns 4,387 shares of the company’s stock valued at $279,000 after purchasing an additional 536 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of CTVA stock opened at $72.8220 on Thursday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company’s 50-day moving average is $73.39 and its 200 day moving average is $66.93. The company has a market capitalization of $49.45 billion, a price-to-earnings ratio of 35.52, 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 announced its quarterly earnings data on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating the consensus estimate of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The company had revenue of $6.46 billion for the quarter, compared to the consensus estimate of $6.26 billion. During the same period in the prior year, the firm posted $1.83 EPS. Corteva’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Tuesday, September 2nd. This is a boost from Corteva’s previous quarterly dividend of $0.17. Corteva’s payout ratio is 33.17%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. KeyCorp upped their target price on shares of Corteva from $84.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, August 8th. Citigroup upped their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research report on Friday, May 9th. Zacks Research raised shares of Corteva to a “hold” rating in a research report on Friday, August 8th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research report on Friday, June 6th. Thirteen analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $80.25.

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.