Choreo LLC Purchases Shares of 5,971 Corteva, Inc. (NYSE:CTVA)

Choreo LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,971 shares of the company’s stock, valued at approximately $286,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in CTVA. Essex Financial Services Inc. raised its stake in shares of Corteva by 3.2% in the third quarter. Essex Financial Services Inc. now owns 6,883 shares of the company’s stock worth $352,000 after buying an additional 215 shares during the period. NewSquare Capital LLC raised its stake in Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock worth $28,000 after acquiring an additional 226 shares during the period. Tradewinds LLC. lifted its holdings in Corteva by 5.1% during the third quarter. Tradewinds LLC. now owns 4,788 shares of the company’s stock valued at $245,000 after purchasing an additional 231 shares in the last quarter. Jeppson Wealth Management LLC boosted its position in shares of Corteva by 6.2% in the third quarter. Jeppson Wealth Management LLC now owns 4,300 shares of the company’s stock worth $220,000 after purchasing an additional 250 shares during the period. Finally, Portside Wealth Group LLC increased its stake in shares of Corteva by 6.3% in the fourth quarter. Portside Wealth Group LLC now owns 4,495 shares of the company’s stock worth $215,000 after purchasing an additional 266 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $57.17 on Friday. The company has a market cap of $39.95 billion, a P/E ratio of 72.35, a P/E/G ratio of 1.41 and a beta of 0.78. The business’s 50 day moving average price is $55.33 and its 200-day moving average price is $50.61. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $60.57. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.90 and a current ratio of 1.56.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. The business had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.63%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter last year, the firm earned $1.16 earnings per share. Sell-side analysts predict that Corteva, Inc. will post 2.84 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Investors of record on Tuesday, June 4th will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a yield of 1.12%. Corteva’s payout ratio is 81.01%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTVA. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Mizuho upped their price objective on Corteva from $56.00 to $61.00 and gave the stock a “buy” rating in a research note on Thursday. KeyCorp increased their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Wolfe Research initiated coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price target on the stock. Finally, BMO Capital Markets increased their price objective on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.38.

Corteva Company 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.