Corteva, Inc. (NYSE:CTVA) Stake Boosted by Xponance Inc.

Posted by Defense World Staff on Apr 3rd, 2023

Xponance Inc. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA – Get Rating) by 17.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,215 shares of the company’s stock after acquiring an additional 12,312 shares during the quarter. Xponance Inc.’s holdings in Corteva were worth $4,833,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Corteva by 244.0% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock worth $122,615,000 after buying an additional 1,513,063 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Corteva by 691.1% during the third quarter. Assenagon Asset Management S.A. now owns 1,301,414 shares of the company’s stock worth $74,376,000 after purchasing an additional 1,136,916 shares during the last quarter. PGGM Investments acquired a new position in shares of Corteva during the third quarter valued at $58,447,000. Great West Life Assurance Co. Can acquired a new position in shares of Corteva during the third quarter valued at $52,471,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Corteva by 74.9% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,934,490 shares of the company’s stock valued at $110,556,000 after acquiring an additional 828,258 shares during the period. Institutional investors own 79.45% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $60.31 on Monday. The business’s fifty day moving average price is $61.02 and its 200-day moving average price is $61.93. The stock has a market capitalization of $42.98 billion, a price-to-earnings ratio of 38.41, a PEG ratio of 1.45 and a beta of 0.80. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 0.93. Corteva, Inc. has a 1-year low of $50.03 and a 1-year high of $68.43.

Corteva (NYSE:CTVA – Get Rating) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.10. Corteva had a return on equity of 7.54% and a net margin of 6.57%. The business had revenue of $3.83 billion during the quarter, compared to analyst estimates of $3.79 billion. During the same quarter in the prior year, the business posted $0.08 EPS. Corteva’s revenue for the quarter was up 10.1% compared to the same quarter last year. On average, equities analysts predict that Corteva, Inc. will post 2.89 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Wednesday, March 1st were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date was Tuesday, February 28th. Corteva’s payout ratio is 38.22%.

Insiders Place Their Bets

In related news, CEO Charles V. Magro bought 40,000 shares of Corteva stock in a transaction dated Monday, February 6th. The shares were acquired at an average cost of $60.64 per share, with a total value of $2,425,600.00. Following the completion of the transaction, the chief executive officer now owns 126,095 shares in the company, valued at approximately $7,646,400.80. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on CTVA. Wells Fargo & Company dropped their price target on Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research report on Friday, February 3rd. KeyCorp dropped their price target on Corteva from $72.00 to $70.00 and set an “overweight” rating for the company in a report on Friday, February 3rd. OTR Global cut Corteva to a “positive” rating in a report on Wednesday, March 8th. Mizuho lifted their price objective on Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, January 12th. Finally, Morgan Stanley lifted their price target on Corteva from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Wednesday, January 11th. Four research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $72.53.

Corteva Profile

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.