Coldstream Capital Management Inc. Buys 1,002 Shares of Corteva, Inc. (NYSE:CTVA)

Coldstream Capital Management Inc. increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.7% during the second quarter, HoldingsChannel reports. The fund owned 12,581 shares of the company’s stock after buying an additional 1,002 shares during the period. Coldstream Capital Management Inc.’s holdings in Corteva were worth $679,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Redmont Wealth Advisors LLC acquired a new stake in shares of Corteva in the 1st quarter valued at about $25,000. Acadian Asset Management LLC acquired a new stake in Corteva in the 1st quarter valued at approximately $25,000. Rise Advisors LLC lifted its stake in Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC acquired a new position in Corteva during the 4th quarter worth approximately $28,000. Finally, Scarborough Advisors LLC bought a new position in shares of Corteva during the 4th quarter worth approximately $29,000. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

NYSE:CTVA opened at $55.69 on Friday. The company has a market cap of $38.81 billion, a P/E ratio of 70.49, a P/E/G ratio of 1.59 and a beta of 0.77. The firm’s fifty day moving average price is $54.04 and its two-hundred day moving average price is $54.63. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.76. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion for the quarter, compared to analyst estimates of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. Corteva’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.60 EPS. Equities analysts expect that Corteva, Inc. will post 2.72 earnings per share for the current year.

Corteva Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be issued a dividend of $0.17 per share. This is a boost from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.22%. The ex-dividend date is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on CTVA. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a research report on Friday, June 7th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a $65.00 price objective on shares of Corteva in a report on Wednesday, June 12th. Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, Mizuho decreased their price target on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

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.