Keene & Associates Inc. Buys 882 Shares of Corteva, Inc. (NYSE:CTVA)

Keene & Associates Inc. boosted its stake in Corteva, Inc. (NYSE:CTVA) by 6.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,519 shares of the company’s stock after purchasing an additional 882 shares during the quarter. Keene & Associates Inc.’s holdings in Corteva were worth $837,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Avantax Advisory Services Inc. increased its stake in shares of Corteva by 6.1% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,511 shares of the company’s stock valued at $600,000 after purchasing an additional 720 shares during the last quarter. Kentucky Retirement Systems grew its position in Corteva by 2.4% in the fourth quarter. Kentucky Retirement Systems now owns 56,386 shares of the company’s stock valued at $2,702,000 after acquiring an additional 1,296 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund raised its stake in Corteva by 2.1% during the fourth quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 25,107 shares of the company’s stock worth $1,203,000 after acquiring an additional 511 shares in the last quarter. Norges Bank bought a new position in shares of Corteva in the fourth quarter worth about $265,298,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Corteva by 24.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 13,502 shares of the company’s stock valued at $647,000 after purchasing an additional 2,643 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTVA. Wells Fargo & Company cut their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. OTR Global reaffirmed a “negative” rating on shares of Corteva in a report on Friday, June 7th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $65.00 price objective on shares of Corteva in a research note on Wednesday, June 12th. Finally, 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 report on Friday, August 2nd. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $61.67.

Corteva Stock Up 1.7 %

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

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.74 by $0.09. The firm had revenue of $6.11 billion for the quarter, compared to analysts’ expectations of $6.15 billion. Corteva had a return on equity of 7.30% and a net margin of 5.31%. The company’s revenue for the quarter was up 1.1% compared to the same quarter last year. During the same period in the prior year, the business earned $1.60 EPS. Equities research analysts anticipate that Corteva, Inc. will post 2.69 EPS 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 paid a $0.17 dividend. This is an increase from Corteva’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 1.20%. The ex-dividend date is Tuesday, September 3rd. Corteva’s payout ratio is 86.08%.

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.