Community Bank of Raymore Buys 3,200 Shares of Corteva, Inc. (NYSE:CTVA)

Community Bank of Raymore raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 64.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,157 shares of the company’s stock after buying an additional 3,200 shares during the period. Community Bank of Raymore’s holdings in Corteva were worth $480,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CTVA. Mediolanum International Funds Ltd purchased a new stake in shares of Corteva during the first quarter worth about $2,270,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Corteva by 14.7% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company’s stock worth $54,678,000 after buying an additional 121,817 shares during the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Corteva during the first quarter worth approximately $1,965,000. Intech Investment Management LLC raised its position in shares of Corteva by 69.5% in the first quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after buying an additional 21,545 shares during the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Corteva by 295.9% in the 1st quarter. Illinois Municipal Retirement Fund now owns 94,896 shares of the company’s stock valued at $5,473,000 after acquiring an additional 70,924 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 2.9 %

NYSE CTVA opened at $58.95 on Thursday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market capitalization of $41.09 billion, a P/E ratio of 74.62, a PEG ratio of 1.66 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $59.08. The company’s 50 day simple moving average is $56.05 and its 200 day simple moving average is $55.05.

Corteva (NYSE:CTVA) last announced its earnings results on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.74 by $0.09. The company had revenue of $6.11 billion for the quarter, compared to the consensus estimate of $6.15 billion. Corteva had a net margin of 5.31% and a return on equity of 7.30%. The company’s revenue was up 1.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.60 EPS. Equities research analysts expect that Corteva, Inc. will post 2.66 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Shareholders of record on Tuesday, September 3rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.15%. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date was Tuesday, September 3rd. Corteva’s dividend payout ratio is presently 86.08%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price target 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. JPMorgan Chase & Co. decreased their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. KeyCorp cut their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their price target for the company from $59.00 to $67.00 in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.21.

Corteva 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.