Corteva, Inc. (NYSE:CTVA) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.6% in the second quarter, HoldingsChannel reports. The firm owned 366,986 shares of the company’s stock after buying an additional 16,268 shares during the period. Victory Capital Management Inc.’s holdings in Corteva were worth $19,795,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in CTVA. &PARTNERS increased its stake in shares of Corteva by 4.3% in the 1st quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after purchasing an additional 200 shares in the last quarter. Herr Investment Group LLC grew its stake in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after acquiring an additional 200 shares during the period. Azzad Asset Management Inc. ADV increased its holdings in Corteva by 0.4% in the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after acquiring an additional 203 shares in the last quarter. Albion Financial Group UT lifted its holdings in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after purchasing an additional 220 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in shares of Corteva by 1.3% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 17,986 shares of the company’s stock worth $1,037,000 after purchasing an additional 227 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

Corteva stock opened at $55.69 on Friday. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $58.76. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a market cap of $38.81 billion, a P/E ratio of 70.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.77. The company has a fifty day simple moving average of $54.04 and a 200-day simple moving average of $54.63.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 7.30% and a net margin of 5.31%. The business’s quarterly revenue was up 1.1% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Equities analysts expect that Corteva, Inc. will post 2.72 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is a positive change 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 currently 86.08%.

Analysts Set New Price Targets

CTVA has been the topic of a number of research reports. 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. OTR Global reaffirmed a “negative” rating on shares of Corteva in a research note on Friday, June 7th. Wells Fargo & Company lowered their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Mizuho decreased their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock 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 given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.67.

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.