Charles Schwab Investment Management Inc. Raises Stake in Corteva, Inc. (NYSE:CTVA)

Charles Schwab Investment Management Inc. lifted its position in Corteva, Inc. (NYSE:CTVA) by 3.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,197,182 shares of the company’s stock after purchasing an additional 127,093 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.60% of Corteva worth $201,129,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Harris Associates L P purchased a new position in Corteva during the 3rd quarter valued at about $246,423,000. Van ECK Associates Corp boosted its position in shares of Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after acquiring an additional 3,366,106 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock worth $567,624,000 after acquiring an additional 2,545,570 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock worth $4,161,709,000 after purchasing an additional 1,941,323 shares during the period. Finally, Assenagon Asset Management S.A. grew its stake in shares of Corteva by 662.9% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock valued at $73,591,000 after buying an additional 1,334,415 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Insider Activity

In related news, insider Brian Titus sold 12,134 shares of the firm’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now owns 13,495 shares of the company’s stock, valued at approximately $764,491.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on CTVA shares. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Wednesday, April 10th. Wolfe Research initiated coverage on shares of Corteva in a report on Friday, March 1st. They set an “outperform” rating and a $67.00 price objective on the stock. KeyCorp lifted their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $57.00 price target (down from $58.00) on shares of Corteva in a research report on Friday, April 12th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.24.

Corteva Price Performance

NYSE CTVA opened at $57.83 on Friday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $58.81. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.97 and a current ratio of 1.51. The stock has a market capitalization of $40.31 billion, a PE ratio of 73.20, a P/E/G ratio of 1.50 and a beta of 0.78. The stock has a 50-day simple moving average of $55.50 and a 200 day simple moving average of $50.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. The company had revenue of $4.49 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The business’s revenue was down 8.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.16 EPS. Research analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Tuesday, June 4th. Corteva’s dividend payout ratio is 81.01%.

Corteva 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.