Choreo LLC Purchases 15,126 Shares of Corteva, Inc. (NYSE:CTVA)

Choreo LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 194.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,896 shares of the company’s stock after acquiring an additional 15,126 shares during the quarter. Choreo LLC’s holdings in Corteva were worth $1,216,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the 1st quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva during the first quarter valued at about $25,000. Rise Advisors LLC raised its holdings in shares of Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares during the period. ICA Group Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter worth about $28,000. Finally, Scarborough Advisors LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $29,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 1.0 %

CTVA opened at $55.69 on Friday. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $58.76. The company has a market cap of $38.81 billion, a PE ratio of 70.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a 50 day moving average of $54.04 and a 200 day moving average of $54.63.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same period last year, the company earned $1.60 earnings per share. The business’s revenue for the quarter was up 1.1% on a year-over-year basis. On average, sell-side analysts expect that Corteva, Inc. will post 2.72 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.22%. This is a boost from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 86.08%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on CTVA. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Mizuho lowered their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Finally, OTR Global reissued a “negative” rating on shares of Corteva in a research note on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $61.67.

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.