Corteva, Inc. (NYSE:CTVA) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. grew its stake in Corteva, Inc. (NYSE:CTVA) by 16.2% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 28,135 shares of the company’s stock after buying an additional 3,923 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,518,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of CTVA. Redmont Wealth Advisors LLC acquired a new position in Corteva in the first quarter valued at approximately $25,000. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter valued at $25,000. Rise Advisors LLC boosted its holdings in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in Corteva during the fourth quarter valued at $28,000. Finally, Scarborough Advisors LLC purchased a new position in Corteva in the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Mizuho reduced their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, June 18th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price target on shares of Corteva in a research note on Wednesday, June 12th. Finally, OTR Global restated a “negative” rating on shares of Corteva in a research report on Friday, June 7th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $61.67.

Corteva Price Performance

CTVA stock opened at $57.44 on Thursday. Corteva, Inc. has a 1 year low of $43.22 and a 1 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. The firm has a market capitalization of $40.03 billion, a PE ratio of 72.71, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77. The business has a 50 day simple moving average of $54.47 and a 200-day simple moving average of $54.71.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company had revenue of $6.11 billion during the quarter, compared to analysts’ expectations of $6.15 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. Equities research analysts anticipate that Corteva, Inc. will post 2.69 earnings per share for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were paid a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. Corteva’s payout ratio is 86.08%.

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.