Knott David M Jr Has $695,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Knott David M Jr lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% in the first quarter, HoldingsChannel reports. The fund owned 11,051 shares of the company’s stock after selling 512 shares during the period. Knott David M Jr’s holdings in Corteva were worth $695,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Capital World Investors grew its holdings in Corteva by 2,874.6% in the 4th quarter. Capital World Investors now owns 12,812,151 shares of the company’s stock valued at $729,780,000 after buying an additional 12,381,436 shares in the last quarter. Nuveen LLC acquired a new position in shares of Corteva in the first quarter valued at about $640,333,000. Independent Franchise Partners LLP increased its position in Corteva by 51.5% during the fourth quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after acquiring an additional 5,604,838 shares during the period. JPMorgan Chase & Co. raised its stake in Corteva by 54.6% in the 1st quarter. JPMorgan Chase & Co. now owns 5,009,038 shares of the company’s stock worth $315,219,000 after purchasing an additional 1,769,355 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Corteva by 97.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,961,440 shares of the company’s stock valued at $111,726,000 after purchasing an additional 967,118 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $70.87 on Monday. The firm has a 50 day moving average of $73.29 and a 200-day moving average of $66.56. The company has a market cap of $48.12 billion, a price-to-earnings ratio of 34.57, a price-to-earnings-growth ratio of 1.64 and a beta of 0.75. The company has a quick ratio of 1.23, a current ratio of 1.68 and a debt-to-equity ratio of 0.06. Corteva, Inc. has a 52 week low of $50.78 and a 52 week high of $77.41.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.89 by $0.31. The business had revenue of $6.46 billion for the quarter, compared to analyst estimates of $6.26 billion. Corteva had a return on equity of 8.68% and a net margin of 8.16%. The company’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.83 earnings per share. On average, equities analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.18 per share. This is an increase from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, September 2nd. Corteva’s dividend payout ratio is 33.17%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of recent research reports. Citigroup raised their price objective on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a research note on Friday, May 9th. KeyCorp increased their price objective on shares of Corteva from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday. BMO Capital Markets lifted their price target on Corteva from $74.00 to $86.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Barclays upped their price objective on Corteva from $70.00 to $75.00 and gave the company an “equal weight” rating in a research note on Monday, July 7th. Finally, Morgan Stanley upped their price target on shares of Corteva from $65.00 to $71.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $79.50.

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.