Redwood Wealth Management Group LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Redwood Wealth Management Group LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 2nd quarter, Holdings Channel.com reports. The firm purchased 795 shares of the company’s stock, valued at approximately $43,000.

Other hedge funds have also added to or reduced their stakes in the company. Rathbones Group PLC raised its holdings in shares of Corteva by 6.0% during the 2nd quarter. Rathbones Group PLC now owns 6,640 shares of the company’s stock worth $358,000 after buying an additional 373 shares in the last quarter. Plato Investment Management Ltd raised its stake in Corteva by 2.4% during the second quarter. Plato Investment Management Ltd now owns 31,311 shares of the company’s stock worth $1,689,000 after acquiring an additional 742 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of Corteva in the second quarter worth about $319,000. Wilkins Investment Counsel Inc. boosted its stake in shares of Corteva by 1.0% in the 2nd quarter. Wilkins Investment Counsel Inc. now owns 365,995 shares of the company’s stock valued at $19,742,000 after purchasing an additional 3,531 shares in the last quarter. Finally, J.W. Cole Advisors Inc. grew its holdings in shares of Corteva by 30.0% during the 2nd quarter. J.W. Cole Advisors Inc. now owns 5,818 shares of the company’s stock valued at $314,000 after purchasing an additional 1,341 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research analyst reports. Mizuho cut their target price on shares of Corteva from $61.00 to $60.00 and set a “buy” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. reduced 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. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 target price on shares of Corteva in a report on Wednesday, June 12th. KeyCorp cut their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, OTR Global reiterated a “negative” rating on shares of Corteva in a report on Friday, June 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $61.67.

Corteva Stock Performance

CTVA stock opened at $56.63 on Monday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The stock has a 50-day moving average price of $54.12 and a 200-day moving average price of $54.64. The firm has a market cap of $39.20 billion, a PE ratio of 71.68, a price-to-earnings-growth ratio of 1.60 and a beta of 0.77.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The business had revenue of $6.11 billion during the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.60 earnings per share. As a group, equities research analysts expect that Corteva, Inc. will post 2.69 earnings per share for the current year.

Corteva Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.20%. This is a boost from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, September 3rd. Corteva’s dividend payout ratio (DPR) is presently 86.08%.

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.