Columbia Asset Management Buys New Holdings in Corteva, Inc. (NYSE:CTVA)

Columbia Asset Management bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,256 shares of the company’s stock, valued at approximately $205,000.

Several other hedge funds have also bought and sold shares of CTVA. Avidian Wealth Enterprises LLC lifted its position in Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC raised its position in shares of Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC raised its position in shares of Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares in the last quarter. Sepio Capital LP raised its position in shares of Corteva by 3.2% in the fourth quarter. Sepio Capital LP now owns 5,361 shares of the company’s stock valued at $305,000 after buying an additional 166 shares in the last quarter. Finally, Allred Capital Management LLC raised its position in shares of Corteva by 3.2% in the fourth quarter. Allred Capital Management LLC now owns 5,447 shares of the company’s stock valued at $310,000 after buying an additional 171 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA opened at $71.46 on Thursday. The firm’s 50-day moving average price is $63.84 and its 200-day moving average price is $61.94. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $71.88. The firm has a market capitalization of $48.75 billion, a P/E ratio of 55.40, a P/E/G ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.25. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The firm had revenue of $4.42 billion for the quarter, compared to analyst estimates of $4.56 billion. During the same quarter in the prior year, the business earned $0.89 earnings per share. The business’s quarterly revenue was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Monday, June 2nd. Corteva’s payout ratio is presently 41.46%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. KeyCorp lifted their price target on shares of Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Citigroup boosted their target price on shares of Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. Royal Bank of Canada boosted their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Morgan Stanley lifted their price target on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

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.