GAMMA Investing LLC Buys 1,948 Shares of Corteva, Inc. (NYSE:CTVA)

GAMMA Investing LLC grew its stake in Corteva, Inc. (NYSE:CTVA) by 51.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,755 shares of the company’s stock after buying an additional 1,948 shares during the period. GAMMA Investing LLC’s holdings in Corteva were worth $332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in CTVA. Vanguard Group Inc. lifted its holdings in Corteva by 2.4% in the third quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after buying an additional 1,941,323 shares during the period. Capital International Investors raised its position in shares of Corteva by 47.2% in the 4th quarter. Capital International Investors now owns 25,758,735 shares of the company’s stock worth $1,234,359,000 after acquiring an additional 8,260,808 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Corteva by 19.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 13,236,504 shares of the company’s stock valued at $634,293,000 after purchasing an additional 2,141,428 shares during the period. Northern Trust Corp lifted its stake in shares of Corteva by 2.5% in the 4th quarter. Northern Trust Corp now owns 12,815,795 shares of the company’s stock valued at $614,133,000 after purchasing an additional 310,012 shares during the period. Finally, Harris Associates L P boosted its position in shares of Corteva by 87.1% during the 4th quarter. Harris Associates L P now owns 9,011,702 shares of the company’s stock valued at $431,841,000 after purchasing an additional 4,194,981 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 12,134 shares of the stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $56.65, for a total value of $687,391.10. Following the transaction, the insider now owns 13,495 shares of the company’s stock, valued at $764,491.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Corteva news, insider Samuel R. Eathington sold 31,686 shares of the firm’s stock in a transaction dated Thursday, May 9th. The shares were sold at an average price of $57.64, for a total value of $1,826,381.04. Following the completion of the sale, the insider now owns 53,854 shares of the company’s stock, valued at $3,104,144.56. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Brian Titus sold 12,134 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $56.65, for a total transaction of $687,391.10. Following the sale, the insider now directly owns 13,495 shares of the company’s stock, valued at $764,491.75. The disclosure for this sale can be found here. Insiders sold 83,556 shares of company stock valued at $4,795,016 over the last 90 days. Company insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTVA. Wells Fargo & Company lifted their target price on Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a report on Friday, May 3rd. Oppenheimer increased their target price on shares of Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. Royal Bank of Canada increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “outperform” rating in a research report on Monday, May 6th. Finally, Wolfe Research began coverage on Corteva in a research report on Friday, March 1st. They issued an “outperform” rating and a $67.00 target price for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.00.

Corteva Price Performance

NYSE CTVA opened at $51.89 on Thursday. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.81. The stock has a 50-day moving average of $54.91 and a 200 day moving average of $52.37. 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 company has a market capitalization of $36.17 billion, a price-to-earnings ratio of 65.68, a PEG ratio of 1.38 and a beta of 0.78.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The firm had revenue of $4.49 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the business posted $1.16 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. On average, sell-side analysts forecast that Corteva, Inc. will post 2.8 EPS for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th were paid a $0.16 dividend. The ex-dividend date was Tuesday, June 4th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.23%. Corteva’s dividend payout ratio (DPR) is currently 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.