Anomaly Capital Management LP Takes $188.58 Million Position in Corteva, Inc. (NYSE:CTVA)

Anomaly Capital Management LP acquired a new position in Corteva, Inc. (NYSE:CTVA) during the second quarter, HoldingsChannel.com reports. The fund acquired 3,496,069 shares of the company’s stock, valued at approximately $188,578,000. Corteva makes up about 7.2% of Anomaly Capital Management LP’s holdings, making the stock its 3rd biggest holding.

Several other large investors have also recently modified their holdings of CTVA. Redmont Wealth Advisors LLC acquired a new stake in Corteva in the first quarter worth about $25,000. Acadian Asset Management LLC acquired a new position in Corteva in the 1st quarter worth approximately $25,000. Rise Advisors LLC increased its stake in shares of Corteva by 2,522.2% in the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares during the period. Albion Financial Group UT raised its stake in shares of Corteva by 77.2% during the 1st quarter. Albion Financial Group UT now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. raised its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock valued at $31,000 after acquiring an additional 280 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

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

Corteva Trading Down 1.7 %

CTVA opened at $57.58 on Monday. The business’s 50 day moving average price is $54.68 and its 200 day moving average price is $54.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The stock has a market capitalization of $40.13 billion, a PE ratio of 72.89, a P/E/G ratio of 1.60 and a beta of 0.77. Corteva, Inc. has a one year low of $43.22 and a one year high of $58.92.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 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 firm had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same period in the prior year, the business earned $1.60 EPS. The firm’s revenue was up 1.1% compared to the same quarter last year. As a group, equities research analysts expect 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. Investors of record on Tuesday, September 3rd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. This is a positive change from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) 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.