North Star Investment Management Corp. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA – Free Report) by 67.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,560 shares of the company’s stock after purchasing an additional 1,033 shares during the period. North Star Investment Management Corp.’s holdings in Corteva were worth $154,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of the business. Moneta Group Investment Advisors LLC lifted its stake in Corteva by 110,628.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after buying an additional 7,897,795 shares during the last quarter. Norges Bank acquired a new position in Corteva during the 4th quarter valued at about $328,936,000. WCM Investment Management LLC grew its position in Corteva by 3,389.9% in the 4th quarter. WCM Investment Management LLC now owns 4,624,868 shares of the company’s stock worth $271,850,000 after purchasing an additional 4,492,347 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Corteva by 244.0% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,133,182 shares of the company’s stock valued at $122,615,000 after purchasing an additional 1,513,063 shares during the period. Finally, Morgan Stanley raised its holdings in shares of Corteva by 8.6% during the fourth quarter. Morgan Stanley now owns 9,452,940 shares of the company’s stock valued at $555,644,000 after buying an additional 746,972 shares during the last quarter. 80.63% of the stock is currently owned by institutional investors.
Corteva Stock Performance
Corteva stock opened at $54.25 on Monday. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.39 and a quick ratio of 0.89. The company has a market cap of $38.56 billion, a P/E ratio of 33.49, a price-to-earnings-growth ratio of 1.23 and a beta of 0.79. Corteva, Inc. has a fifty-two week low of $51.62 and a fifty-two week high of $68.43. The firm’s 50 day simple moving average is $56.54 and its 200-day simple moving average is $59.41.
Corteva Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a dividend of $0.15 per share. The ex-dividend date was Wednesday, May 31st. This represents a $0.60 annualized dividend and a yield of 1.11%. Corteva’s dividend payout ratio (DPR) is presently 37.04%.
Wall Street Analysts Forecast Growth
Several research firms recently commented on CTVA. Oppenheimer began coverage on Corteva in a research report on Thursday, April 6th. They issued a “market perform” rating on the stock. Canaccord Genuity Group assumed coverage on shares of Corteva in a research note on Wednesday, June 28th. They set a “buy” rating and a $75.00 price objective on the stock. KeyCorp decreased their target price on shares of Corteva from $70.00 to $68.00 in a research report on Tuesday, July 11th. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Corteva from $75.00 to $68.00 in a research note on Monday, May 8th. Finally, Barclays lowered their price objective on shares of Corteva from $75.00 to $70.00 in a research note on Thursday, June 1st. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $71.76.
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.
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