Corteva, Inc. (NYSE:CTVA) Shares Acquired by Brandes Investment Partners LP

Brandes Investment Partners LP boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 10.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,868,735 shares of the company’s stock after buying an additional 265,411 shares during the period. Corteva accounts for approximately 1.9% of Brandes Investment Partners LP’s holdings, making the stock its 15th largest holding. Brandes Investment Partners LP owned approximately 0.41% of Corteva worth $154,691,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Redmont Wealth Advisors LLC acquired a new position in Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC grew its holdings in shares of Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the period. Albion Financial Group UT raised its holdings in Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the period. Finally, Ironwood Wealth Management Inc. lifted its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after buying an additional 280 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.0 %

Corteva stock opened at $58.58 on Monday. The company’s fifty day moving average price is $55.02 and its two-hundred day moving average price is $54.88. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.08. The company has a market capitalization of $40.83 billion, a price-to-earnings ratio of 74.15, a PEG ratio of 1.68 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued 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. The company had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.60 earnings per share. On average, analysts forecast that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were paid a $0.17 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.16%. Corteva’s payout ratio is currently 86.08%.

Analyst Ratings Changes

A number of analysts recently weighed in on CTVA shares. Wells Fargo & Company decreased their price target on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. Finally, Mizuho decreased their price objective on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $61.94.

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.