Oppenheimer Asset Management Inc. Buys 305 Shares of Corteva, Inc. (NYSE:CTVA)

Oppenheimer Asset Management Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% during the 1st quarter, HoldingsChannel reports. The fund owned 24,212 shares of the company’s stock after purchasing an additional 305 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,396,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Capital International Investors grew its stake in shares of Corteva by 47.2% during the fourth quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock valued at $1,234,359,000 after buying an additional 8,260,808 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Corteva by 19.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after buying an additional 2,141,428 shares during the last quarter. Northern Trust Corp grew its stake in shares of Corteva by 2.5% during the fourth quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after buying an additional 310,012 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Corteva by 7.2% during the first quarter. Van ECK Associates Corp now owns 9,145,282 shares of the company’s stock valued at $527,409,000 after buying an additional 617,030 shares during the last quarter. Finally, Harris Associates L P grew its stake in shares of Corteva by 87.1% during the fourth quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after buying an additional 4,194,981 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

NYSE CTVA opened at $53.10 on Monday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.51 and a quick ratio of 0.97. The stock’s fifty day moving average price is $54.16 and its 200 day moving average price is $53.18. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $58.76. The company has a market cap of $37.01 billion, a price-to-earnings ratio of 67.22, a PEG ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm’s revenue was down 8.0% on a year-over-year basis. During the same period in the prior year, the firm earned $1.16 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.79 earnings per share for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend was Tuesday, June 4th. Corteva’s dividend payout ratio is currently 81.01%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Samuel R. Eathington sold 31,686 shares of the stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total transaction of $1,826,381.04. Following the sale, the insider now directly owns 53,854 shares of the company’s stock, valued at approximately $3,104,144.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares in the company, valued at $764,491.75. The disclosure for this sale can be found here. In the last three months, insiders have sold 83,556 shares of company stock valued at $4,795,016. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of research reports. Royal Bank of Canada boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “outperform” rating in a report on Monday, May 6th. Wells Fargo & Company boosted their price target on Corteva from $66.00 to $67.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. KeyCorp upped their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. BMO Capital Markets upped their target price on Corteva from $64.00 to $67.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.00.

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.