Corteva, Inc. (NYSE:CTVA) Position Increased by Jackson Hole Capital Partners LLC

Jackson Hole Capital Partners LLC raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 36.9% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 9,165 shares of the company’s stock after purchasing an additional 2,470 shares during the quarter. Jackson Hole Capital Partners LLC’s holdings in Corteva were worth $439,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Harris Associates L P purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $246,423,000. Van ECK Associates Corp lifted its position in shares of Corteva by 78.7% in the 3rd quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock valued at $391,123,000 after acquiring an additional 3,366,106 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Corteva by 29.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 11,095,076 shares of the company’s stock valued at $567,624,000 after acquiring an additional 2,545,570 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Corteva by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 81,346,924 shares of the company’s stock valued at $4,161,709,000 after acquiring an additional 1,941,323 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Corteva by 662.9% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock valued at $73,591,000 after acquiring an additional 1,334,415 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

NYSE:CTVA traded up $0.22 during midday trading on Friday, reaching $54.92. The stock had a trading volume of 2,350,150 shares, compared to its average volume of 3,520,670. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $61.87. The firm’s fifty day simple moving average is $55.28 and its 200-day simple moving average is $50.43. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The stock has a market capitalization of $38.38 billion, a P/E ratio of 53.63, a PEG ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last posted its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period last year, the business posted $0.16 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 18th. Shareholders of record on Tuesday, June 4th will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.17%. Corteva’s dividend payout ratio is 62.75%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Mizuho cut their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research report on Thursday, February 1st. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a research report on Friday, April 12th. Wells Fargo & Company increased their target price on shares of Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. UBS Group cut their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, Barclays increased their target price on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Six research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $63.29.

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.