Keene & Associates Inc. Purchases 2,358 Shares of Corteva, Inc. (NYSE:CTVA)

Keene & Associates Inc. grew its position in Corteva, Inc. (NYSE:CTVA) by 20.6% in the fourth quarter, Holdings Channel reports. The fund owned 13,817 shares of the company’s stock after acquiring an additional 2,358 shares during the quarter. Keene & Associates Inc.’s holdings in Corteva were worth $662,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in shares of Corteva by 1.1% in the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock valued at $132,293,000 after acquiring an additional 31,171 shares during the last quarter. Romano Brothers AND Company lifted its stake in shares of Corteva by 12.2% in the 4th quarter. Romano Brothers AND Company now owns 4,778 shares of the company’s stock valued at $229,000 after acquiring an additional 518 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in shares of Corteva in the 4th quarter valued at $2,041,000. WCM Investment Management LLC lifted its stake in shares of Corteva by 3.1% in the 4th quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock valued at $341,590,000 after acquiring an additional 213,949 shares during the last quarter. Finally, Northstar Asset Management LLC raised its position in Corteva by 8.7% during the 4th quarter. Northstar Asset Management LLC now owns 6,870 shares of the company’s stock worth $329,000 after purchasing an additional 550 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CTVA has been the subject of several recent research reports. Royal Bank of Canada increased their price target on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Mizuho lowered their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a report on Thursday, February 1st. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research note on Friday, February 2nd. UBS Group lowered their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. Finally, Wells Fargo & Company upped their price target on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.05.

Corteva Stock Down 4.8 %

CTVA stock traded down $2.70 during midday trading on Friday, reaching $53.76. 3,906,743 shares of the company’s stock traded hands, compared to its average volume of 2,991,699. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.37. The company has a market cap of $37.57 billion, a price-to-earnings ratio of 52.71, a P/E/G ratio of 1.40 and a beta of 0.77. The firm’s fifty day moving average price is $55.14 and its 200-day moving average price is $50.19. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The company had revenue of $3.71 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm posted $0.16 earnings per share. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva’s payout ratio is currently 62.75%.

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.