Wedmont Private Capital Has $291,000 Position in Corteva, Inc. (NYSE:CTVA)

Wedmont Private Capital increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.4% during the 1st quarter, Holdings Channel reports. The fund owned 4,913 shares of the company’s stock after buying an additional 205 shares during the quarter. Wedmont Private Capital’s holdings in Corteva were worth $291,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTVA. Capital World Investors lifted its stake in Corteva by 2,874.6% in the fourth 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. Independent Franchise Partners LLP boosted its stake in Corteva by 51.5% in the 4th quarter. Independent Franchise Partners LLP now owns 16,496,508 shares of the company’s stock worth $939,641,000 after purchasing an additional 5,604,838 shares during the period. Norges Bank bought a new position in Corteva during the 4th quarter worth about $251,892,000. Raymond James Financial Inc. acquired a new stake in shares of Corteva in the 4th quarter valued at about $161,052,000. Finally, Franklin Resources Inc. lifted its holdings in shares of Corteva by 9.2% in the fourth quarter. Franklin Resources Inc. now owns 16,143,025 shares of the company’s stock valued at $919,507,000 after purchasing an additional 1,354,418 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on CTVA shares. Argus raised Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a research report on Monday, March 31st. The Goldman Sachs Group assumed coverage on shares of Corteva in a report on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective on the stock. KeyCorp increased their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Citigroup lifted their price target on shares of Corteva from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Friday, May 9th. Finally, Barclays boosted their price target on shares of Corteva from $64.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Wednesday, May 14th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Corteva Stock Up 0.7%

CTVA stock opened at $72.04 on Thursday. Corteva, Inc. has a 1-year low of $50.30 and a 1-year high of $72.40. The business’s 50 day simple moving average is $64.86 and its 200 day simple moving average is $62.37. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $49.15 billion, a PE ratio of 55.85, a PEG ratio of 1.68 and a beta of 0.75.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 EPS 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 the consensus estimate of $4.56 billion. During the same period in the previous year, the company earned $0.89 earnings per share. The company’s quarterly revenue was down 1.7% on a year-over-year basis. As a group, research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Monday, June 2nd. Corteva’s dividend payout ratio is presently 41.46%.

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.