Vontobel Holding Ltd. Has $8.23 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Vontobel Holding Ltd. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 2.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 139,907 shares of the company’s stock after selling 3,970 shares during the period. Vontobel Holding Ltd.’s holdings in Corteva were worth $8,225,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTVA. Mediolanum International Funds Ltd purchased a new position in Corteva during the 1st quarter worth $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Corteva by 14.7% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after purchasing an additional 121,817 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in Corteva in the 1st quarter valued at about $1,965,000. Intech Investment Management LLC lifted its position in shares of Corteva by 69.5% during the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock worth $3,031,000 after buying an additional 21,545 shares in the last quarter. Finally, Illinois Municipal Retirement Fund boosted its stake in shares of Corteva by 295.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock worth $5,473,000 after buying an additional 70,924 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and increased their price target for the company from $59.00 to $67.00 in a research report on Wednesday. JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Finally, 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 note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $62.21.

Corteva Stock Performance

Shares of CTVA opened at $58.95 on Friday. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $59.13. The stock’s 50-day simple moving average is $56.20 and its 200 day simple moving average is $55.08. 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 $41.09 billion, a price-to-earnings ratio of 74.62, a price-to-earnings-growth ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced 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. The firm had revenue of $6.11 billion for 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%. The company’s revenue for the quarter 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. Research analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently declared 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 is a positive change from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date was Tuesday, September 3rd. Corteva’s payout ratio is 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.