Tandem Investment Advisors Inc. Acquires New Stake in Corteva, Inc. (NYSE:CTVA)

Tandem Investment Advisors Inc. bought a new position in shares of Corteva, Inc. (NYSE:CTVA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,675 shares of the company’s stock, valued at approximately $216,000.

A number of other institutional investors and hedge funds also recently modified their holdings of CTVA. Acadian Asset Management LLC acquired a new position in shares of Corteva in the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its position in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the second quarter worth $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva in the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva in the 2nd quarter worth $45,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company lowered their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, UBS Group lifted their target price on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.21.

Corteva Stock Performance

Corteva stock opened at $58.64 on Friday. The company has a market cap of $40.59 billion, a PE ratio of 45.11, a PEG ratio of 1.76 and a beta of 0.77. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.75. The company’s 50-day moving average is $58.14 and its two-hundred day moving average is $55.55.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, November 6th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.18). Corteva had a net margin of 5.31% and a return on equity of 7.30%. The business had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.69 billion. Equities analysts anticipate that Corteva, Inc. will post 2.66 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s dividend payout ratio (DPR) is presently 52.31%.

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.