Bristol Gate Capital Partners Inc. Has $95.39 Million Position in Corteva, Inc. (NYSE:CTVA)

Bristol Gate Capital Partners Inc. increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 14.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,768,352 shares of the company’s stock after purchasing an additional 228,460 shares during the period. Corteva accounts for 4.7% of Bristol Gate Capital Partners Inc.’s holdings, making the stock its 5th biggest holding. Bristol Gate Capital Partners Inc. owned about 0.25% of Corteva worth $95,385,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Redmont Wealth Advisors LLC purchased a new position in Corteva in the first quarter valued at about $25,000. Acadian Asset Management LLC bought a new stake in shares of Corteva in the 1st quarter valued at about $25,000. Rise Advisors LLC grew its position in shares of Corteva by 2,522.2% in the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after buying an additional 454 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter worth approximately $28,000. Finally, Scarborough Advisors LLC purchased a new stake in Corteva during the fourth quarter valued at approximately $29,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 2.0 %

Shares of CTVA opened at $58.60 on Friday. The company has a market capitalization of $40.84 billion, a price-to-earnings ratio of 74.18, a PEG ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $58.92. The stock’s 50-day moving average price is $54.59 and its 200-day moving average price is $54.73. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.60 EPS. On average, sell-side analysts predict that Corteva, Inc. will post 2.69 EPS for the current year.

Corteva Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.17 dividend. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Corteva’s payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several analyst reports. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. OTR Global reissued a “negative” rating on shares of Corteva in a report on Friday, June 7th. Wells Fargo & Company decreased their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $65.00 target price on shares of Corteva in a research report on Wednesday, June 12th. Finally, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $61.67.

About Corteva

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.