Oppenheimer Asset Management Inc. Has $1.62 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Oppenheimer Asset Management Inc. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 9.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 25,738 shares of the company’s stock after selling 2,696 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,620,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $26,000. Pinney & Scofield Inc. purchased a new stake in shares of Corteva in the fourth quarter worth approximately $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corteva in the fourth quarter worth approximately $31,000. Finally, J.Safra Asset Management Corp purchased a new stake in shares of Corteva in the fourth quarter worth approximately $37,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent research reports. Argus raised shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price objective on the stock in a research report on Monday, March 31st. Jefferies Financial Group reaffirmed a “buy” rating on shares of Corteva in a research report on Friday, June 6th. KeyCorp raised their price objective 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. Oppenheimer reaffirmed an “outperform” rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research report on Friday, May 9th. Finally, Wells Fargo & Company raised their price objective on shares of Corteva from $79.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $72.08.

Corteva Trading Up 0.1%

Shares of CTVA stock opened at $74.38 on Friday. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $75.05. The company has a quick ratio of 1.00, a current ratio of 1.44 and a debt-to-equity ratio of 0.07. The business’s 50 day moving average is $68.57 and its two-hundred day moving average is $63.37. The company has a market cap of $50.74 billion, a PE ratio of 45.35, a price-to-earnings-growth ratio of 1.90 and a beta of 0.75.

Corteva (NYSE:CTVA) last announced its quarterly earnings results 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 return on equity of 7.84% and a net margin of 6.77%. The company had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. During the same quarter last year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. Corteva’s payout ratio is 41.46%.

About Corteva

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.