American Century Companies Inc. Purchases 10,711 Shares of Corteva, Inc. (NYSE:CTVA)

American Century Companies Inc. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 12.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 96,151 shares of the company’s stock after purchasing an additional 10,711 shares during the period. American Century Companies Inc.’s holdings in Corteva were worth $4,919,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of CTVA. Deutsche Bank AG raised its holdings in Corteva by 5.3% during the third quarter. Deutsche Bank AG now owns 3,148,871 shares of the company’s stock valued at $161,096,000 after acquiring an additional 158,741 shares during the period. Public Sector Pension Investment Board lifted its holdings in Corteva by 11.6% in the 3rd quarter. Public Sector Pension Investment Board now owns 76,028 shares of the company’s stock worth $3,890,000 after purchasing an additional 7,886 shares in the last quarter. Auxier Asset Management boosted its stake in Corteva by 5.8% in the 3rd quarter. Auxier Asset Management now owns 60,588 shares of the company’s stock worth $3,100,000 after purchasing an additional 3,346 shares during the period. Creative Planning grew its holdings in Corteva by 14.8% during the 3rd quarter. Creative Planning now owns 121,406 shares of the company’s stock valued at $6,211,000 after buying an additional 15,643 shares in the last quarter. Finally, Monograph Wealth Advisors LLC bought a new stake in shares of Corteva during the third quarter valued at approximately $215,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Oppenheimer upped their target price on shares of Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Wells Fargo & Company lifted their target price on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Mizuho dropped their price target on Corteva from $59.00 to $56.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price objective on the stock in a research note on Friday, February 2nd. Finally, Royal Bank of Canada increased their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $63.14.

Corteva Stock Up 1.2 %

Shares of Corteva stock opened at $57.00 on Thursday. 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 cap of $39.84 billion, a price-to-earnings ratio of 55.88, a PEG ratio of 1.43 and a beta of 0.77. The firm’s 50-day moving average is $52.44 and its two-hundred day moving average is $49.69. Corteva, Inc. has a 1 year low of $43.22 and a 1 year high of $63.37.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The company 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 company posted $0.16 earnings per share. As a group, research analysts expect that Corteva, Inc. will post 2.87 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is currently 62.75%.

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.