Riverview Trust Co Increases Stake in Corteva, Inc. (NYSE:CTVA)

Riverview Trust Co lifted its position in Corteva, Inc. (NYSE:CTVA) by 9.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,122 shares of the company’s stock after acquiring an additional 349 shares during the period. Riverview Trust Co’s holdings in Corteva were worth $242,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Pinnacle Bancorp Inc. grew its stake in shares of Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after acquiring an additional 199 shares during the last quarter. &PARTNERS boosted its position in shares of Corteva by 4.3% during the first quarter. &PARTNERS now owns 4,829 shares of the company’s stock valued at $278,000 after buying an additional 200 shares during the last quarter. Herr Investment Group LLC raised its position in Corteva by 2.8% in the 1st quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock worth $427,000 after buying an additional 200 shares during the last quarter. Azzad Asset Management Inc. ADV boosted its holdings in shares of Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock valued at $2,600,000 after acquiring an additional 203 shares during the last quarter. Finally, Albion Financial Group UT grew its stake in shares of Corteva by 77.2% in the first quarter. Albion Financial Group UT now owns 505 shares of the company’s stock worth $29,000 after acquiring an additional 220 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

CTVA stock opened at $59.42 on Friday. The firm has a 50-day simple moving average of $56.36 and a two-hundred day simple moving average of $55.09. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. Corteva, Inc. has a one year low of $43.22 and a one year high of $59.68. The firm has a market cap of $41.41 billion, a price-to-earnings ratio of 75.22, a PEG ratio of 1.66 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm had revenue of $6.11 billion during the quarter, compared to analyst estimates of $6.15 billion. During the same quarter in the prior year, the business posted $1.60 EPS. The business’s revenue for the quarter was up 1.1% compared to the same quarter last year. On average, equities analysts forecast that Corteva, Inc. will post 2.66 EPS for the current fiscal year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were issued a $0.17 dividend. The ex-dividend date was Tuesday, September 3rd. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Corteva’s payout ratio is presently 86.08%.

Wall Street Analysts Forecast Growth

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

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.