Wedmont Private Capital Invests $232,000 in Corteva, Inc. (NYSE:CTVA)

Wedmont Private Capital acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,040 shares of the company’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Redmont Wealth Advisors LLC acquired a new stake in Corteva during the first quarter worth about $25,000. Acadian Asset Management LLC acquired a new stake in Corteva during the first quarter worth about $25,000. Rise Advisors LLC increased its position in Corteva by 2,522.2% during the first quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after purchasing an additional 454 shares during the last quarter. Albion Financial Group UT increased its position in Corteva by 77.2% during the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 220 shares during the last quarter. Finally, Ironwood Wealth Management Inc. increased its position in Corteva by 106.1% during the first quarter. Ironwood Wealth Management Inc. now owns 544 shares of the company’s stock worth $31,000 after purchasing an additional 280 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Mizuho dropped their price target on shares of Corteva from $61.00 to $60.00 and set a “buy” rating for the company in a research report on Tuesday, June 18th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp dropped their price target 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. One 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 data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $61.94.

Corteva Stock Up 0.5 %

Shares of Corteva stock opened at $56.84 on Monday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.08. The company has a 50 day moving average of $55.64 and a 200 day moving average of $55.02. The company has a quick ratio of 1.17, a current ratio of 1.72 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $39.62 billion, a P/E ratio of 71.95, a P/E/G ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. During the same quarter in the previous year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 1.1% on a year-over-year basis. As a group, research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. Corteva’s payout ratio is currently 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.