Corteva, Inc. (NYSE:CTVA) Shares Purchased by Sei Investments Co.

Sei Investments Co. boosted its position in Corteva, Inc. (NYSE:CTVA – Get Rating) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,102,382 shares of the company’s stock after acquiring an additional 72,478 shares during the quarter. Sei Investments Co. owned 0.15% of Corteva worth $64,798,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in CTVA. Legacy Bridge LLC raised its holdings in Corteva by 73.9% in the fourth quarter. Legacy Bridge LLC now owns 433 shares of the company’s stock valued at $25,000 after acquiring an additional 184 shares in the last quarter. Greenwood Capital Associates LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $25,000. Column Capital Advisors LLC raised its holdings in Corteva by 100.0% in the fourth quarter. Column Capital Advisors LLC now owns 426 shares of the company’s stock valued at $25,000 after acquiring an additional 213 shares in the last quarter. Beacon Capital Management LLC raised its holdings in Corteva by 82.8% in the fourth quarter. Beacon Capital Management LLC now owns 468 shares of the company’s stock valued at $28,000 after acquiring an additional 212 shares in the last quarter. Finally, WJ Interests LLC purchased a new position in Corteva in the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.45% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Vertical Research upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $67.00 price target on the stock in a research note on Monday. OTR Global lowered shares of Corteva to a “positive” rating in a research note on Wednesday, March 8th. Mizuho dropped their price target on shares of Corteva from $78.00 to $76.00 in a research note on Friday, May 5th. KeyCorp dropped their price target on shares of Corteva from $72.00 to $70.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Finally, Wells Fargo & Company dropped their price target on shares of Corteva from $78.00 to $77.00 and set an “overweight” rating on the stock in a research note on Friday, February 3rd. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $72.75.

Corteva Price Performance

Corteva stock traded up $0.82 during midday trading on Friday, reaching $55.67. The company’s stock had a trading volume of 368,286 shares, compared to its average volume of 3,083,273. Corteva, Inc. has a fifty-two week low of $50.03 and a fifty-two week high of $68.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.89 and a current ratio of 1.39. The stock’s 50 day simple moving average is $59.09 and its 200 day simple moving average is $61.27. The firm has a market capitalization of $39.57 billion, a PE ratio of 33.86, a P/E/G ratio of 1.23 and a beta of 0.78.

Corteva (NYSE:CTVA – Get Rating) last released its earnings results on Wednesday, May 3rd. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.23. Corteva had a return on equity of 8.03% and a net margin of 6.64%. The company had revenue of $4.88 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the company earned $0.97 earnings per share. Corteva’s quarterly revenue was up 6.2% compared to the same quarter last year. On average, equities research analysts forecast that Corteva, Inc. will post 2.99 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st will be issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Wednesday, May 31st. Corteva’s dividend payout ratio (DPR) is currently 37.04%.

About Corteva

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Corteva, Inc engages in the provision of seed and crop protection solutions, which focus on the agriculture industry and contributing to food supply. It operates through the Seed and Crop Protection segments. The Seed segment is involved in developing and supplying advanced germplasm and traits that produce yield for farms.