Corteva, Inc. (NYSE:CTVA) Shares Bought by IFM Investors Pty Ltd

IFM Investors Pty Ltd lifted its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 158,971 shares of the company’s stock after purchasing an additional 15,533 shares during the quarter. IFM Investors Pty Ltd’s holdings in Corteva were worth $9,346,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Anomaly Capital Management LP acquired a new stake in Corteva during the second quarter valued at $188,578,000. Vaughan Nelson Investment Management L.P. grew its position in shares of Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after acquiring an additional 3,254,126 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. raised its holdings in Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after purchasing an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC boosted its position in Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after purchasing an additional 1,031,678 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. KeyCorp reduced their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Citigroup started coverage on shares of Corteva in a research report on Wednesday. They issued a “buy” rating and a $68.00 target price on the stock. Wells Fargo & Company reduced their price target 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. Finally, Argus cut Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $62.84.

Corteva Stock Performance

NYSE:CTVA opened at $60.79 on Friday. The company’s 50-day moving average is $56.84 and its two-hundred day moving average is $55.13. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.20. 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 $42.37 billion, a price-to-earnings ratio of 76.95, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.60 earnings per share. Analysts forecast that Corteva, Inc. will post 2.66 EPS for the current 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 issued a $0.17 dividend. 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 1.12%. The ex-dividend date of this dividend was Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

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.