AlphaQuest LLC Purchases 16,850 Shares of Corteva, Inc. $CTVA

AlphaQuest LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 78.8% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 38,229 shares of the company’s stock after acquiring an additional 16,850 shares during the period. AlphaQuest LLC’s holdings in Corteva were worth $2,585,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Gladwyn Financial Advisors Inc. bought a new stake in shares of Corteva in the second quarter worth about $25,000. Activest Wealth Management grew its position in shares of Corteva by 118.3% in the 3rd quarter. Activest Wealth Management now owns 369 shares of the company’s stock valued at $25,000 after purchasing an additional 200 shares during the period. True Wealth Design LLC increased its stake in Corteva by 209.5% during the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares in the last quarter. Total Investment Management Inc. acquired a new stake in Corteva during the 2nd quarter worth approximately $27,000. Finally, Curat Global LLC lifted its stake in Corteva by 93.7% in the second quarter. Curat Global LLC now owns 370 shares of the company’s stock valued at $28,000 after buying an additional 179 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 1.4%

NYSE CTVA opened at $72.80 on Friday. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The stock has a 50 day moving average of $68.11 and a 200-day moving average of $68.40. The company has a market cap of $49.19 billion, a PE ratio of 31.11, a PEG ratio of 1.88 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion for the quarter, compared to analyst estimates of $2.47 billion. During the same period in the prior year, the firm posted ($0.49) earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Monday, March 2nd will be issued a dividend of $0.18 per share. The ex-dividend date is Monday, March 2nd. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. Corteva’s dividend payout ratio (DPR) is presently 30.77%.

Analysts Set New Price Targets

A number of brokerages recently commented on CTVA. Citigroup raised their price objective on shares of Corteva from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Wednesday, January 21st. The Goldman Sachs Group lifted their price target on Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, December 16th. Royal Bank Of Canada reduced their price objective on Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Corteva from $90.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, November 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Corteva from $70.00 to $75.00 and gave the company an “overweight” rating in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average target price of $79.58.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.