Ritholtz Wealth Management Buys Shares of 31,891 Corteva, Inc. (NYSE:CTVA)

Ritholtz Wealth Management bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the first quarter, HoldingsChannel reports. The institutional investor bought 31,891 shares of the company’s stock, valued at approximately $2,007,000.

A number of other large investors also recently added to or reduced their stakes in CTVA. Brighton Jones LLC lifted its position in Corteva by 307.2% during the 4th quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after purchasing an additional 11,760 shares during the period. V Square Quantitative Management LLC raised its position in shares of Corteva by 4.5% in the 4th quarter. V Square Quantitative Management LLC now owns 5,218 shares of the company’s stock valued at $297,000 after acquiring an additional 227 shares during the period. Valeo Financial Advisors LLC raised its position in shares of Corteva by 2.7% in the 4th quarter. Valeo Financial Advisors LLC now owns 9,849 shares of the company’s stock valued at $561,000 after acquiring an additional 257 shares during the period. Nations Financial Group Inc. IA ADV raised its position in shares of Corteva by 7.8% in the 4th quarter. Nations Financial Group Inc. IA ADV now owns 7,125 shares of the company’s stock valued at $406,000 after acquiring an additional 517 shares during the period. Finally, Beacon Capital Management LLC raised its position in shares of Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of CTVA opened at $74.14 on Tuesday. The stock has a market capitalization of $50.58 billion, a P/E ratio of 57.48, a P/E/G ratio of 1.68 and a beta of 0.75. Corteva, Inc. has a twelve month low of $50.30 and a twelve month high of $74.19. The company has a 50 day moving average of $65.91 and a 200-day moving average of $62.57. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. The company had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a net margin of 5.36% and a return on equity of 7.19%. The business’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the business earned $0.89 EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.92%. Corteva’s dividend payout ratio is presently 41.46%.

Analysts Set New Price Targets

CTVA has been the topic of a number of analyst reports. Barclays increased their price target on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Wednesday, May 14th. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 target price on the stock in a report on Monday, March 31st. KeyCorp raised their target price on shares of Corteva from $71.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Morgan Stanley raised their target price on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, Wells Fargo & Company raised their target price on shares of Corteva from $73.00 to $79.00 and gave the stock an “overweight” rating in a report on Monday, May 12th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $70.92.

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.