AQR Capital Management LLC Trims Position in Corteva, Inc. (NYSE:CTVA)

AQR Capital Management LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 11.8% during the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,328 shares of the company’s stock after selling 34,157 shares during the quarter. AQR Capital Management LLC’s holdings in Corteva were worth $13,718,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the business. AXA S.A. grew its holdings in Corteva by 19.9% during the 2nd quarter. AXA S.A. now owns 154,197 shares of the company’s stock valued at $8,317,000 after buying an additional 25,645 shares in the last quarter. Albar Capital Ltd boosted its position in shares of Corteva by 99.3% during the second quarter. Albar Capital Ltd now owns 520,578 shares of the company’s stock worth $28,080,000 after acquiring an additional 259,369 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in Corteva by 17.0% during the second quarter. HITE Hedge Asset Management LLC now owns 117,034 shares of the company’s stock valued at $6,313,000 after acquiring an additional 17,034 shares in the last quarter. Insigneo Advisory Services LLC increased its holdings in Corteva by 61.1% in the 2nd quarter. Insigneo Advisory Services LLC now owns 8,879 shares of the company’s stock valued at $456,000 after acquiring an additional 3,368 shares during the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in Corteva by 59.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 133,857 shares of the company’s stock worth $7,220,000 after purchasing an additional 49,700 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of several research reports. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. JPMorgan Chase & Co. reduced their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Mizuho lowered their target price on Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. KeyCorp reduced their price target 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. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $61.94.

Corteva Trading Down 1.4 %

NYSE CTVA opened at $57.97 on Wednesday. The company’s 50-day simple moving average is $55.17 and its two-hundred day simple moving average is $54.92. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.08. The company has a market capitalization of $40.40 billion, a price-to-earnings ratio of 73.38, a price-to-earnings-growth ratio of 1.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

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

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd were given a dividend of $0.17 per share. The ex-dividend date was Tuesday, September 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s dividend payout ratio (DPR) is presently 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.