Corteva, Inc. (NYSE:CTVA) Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,649,450 shares of the company’s stock after buying an additional 224,423 shares during the quarter. Dimensional Fund Advisors LP owned approximately 0.67% of Corteva worth $250,786,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Redmont Wealth Advisors LLC acquired a new position in shares of Corteva during the 1st quarter worth approximately $25,000. Acadian Asset Management LLC acquired a new position in Corteva during the first quarter worth $25,000. Rise Advisors LLC lifted its holdings in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock valued at $27,000 after purchasing an additional 454 shares in the last quarter. ICA Group Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $28,000. Finally, Scarborough Advisors LLC acquired a new position in shares of Corteva during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.7 %

Shares of Corteva stock opened at $57.44 on Thursday. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $58.76. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The firm has a market capitalization of $40.03 billion, a price-to-earnings ratio of 72.71, a PEG ratio of 1.60 and a beta of 0.77. The stock has a 50 day moving average of $54.47 and a 200 day moving average of $54.71.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during 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 company’s revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 EPS. As a group, research analysts predict that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $65.00 price objective 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. Finally, Wells Fargo & Company reduced their target price 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. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.