3,807 Shares in Corteva, Inc. (NYSE:CTVA) Bought by GAMMA Investing LLC

GAMMA Investing LLC acquired a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,807 shares of the company’s stock, valued at approximately $173,000.

A number of other large investors have also recently bought and sold shares of CTVA. Harris Associates L P bought a new stake in Corteva during the third quarter valued at about $246,423,000. Van ECK Associates Corp boosted its holdings in Corteva by 78.7% during the third 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 during the period. Massachusetts Financial Services Co. MA boosted its holdings in Corteva by 29.8% during the third 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 during the period. Vanguard Group Inc. boosted its holdings in Corteva by 2.4% during the third 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 during the period. Finally, Assenagon Asset Management S.A. lifted its stake in shares of Corteva by 662.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 1,535,708 shares of the company’s stock valued at $73,591,000 after buying an additional 1,334,415 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Mizuho reduced their target price on shares of Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. UBS Group reduced their target price on shares of Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research note on Thursday, January 11th. TheStreet upgraded shares of Corteva from a “c+” rating to a “b-” rating in a research note on Tuesday, February 27th. Wells Fargo & Company increased their price target 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. Finally, Barclays increased their price target 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 equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Price Performance

CTVA opened at $54.92 on Friday. Corteva, Inc. has a one year low of $43.22 and a one year high of $61.87. 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 company’s 50 day simple moving average is $55.28 and its 200-day simple moving average is $50.46. The stock has a market capitalization of $38.38 billion, a P/E ratio of 53.84, a price-to-earnings-growth ratio of 1.43 and a beta of 0.77.

Corteva (NYSE:CTVA) last announced its quarterly earnings data 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. Corteva had a net margin of 4.27% and a return on equity of 7.43%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the firm earned $0.16 earnings per share. Sell-side analysts anticipate that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

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.