Raymond James Trust N.A. Grows Stake in Corteva, Inc. (NYSE:CTVA)

Raymond James Trust N.A. lifted its stake in Corteva, Inc. (NYSE:CTVA) by 7.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,758 shares of the company’s stock after buying an additional 2,499 shares during the period. Raymond James Trust N.A.’s holdings in Corteva were worth $1,929,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Redmont Wealth Advisors LLC purchased a new position in shares of Corteva in the first quarter valued at $25,000. Acadian Asset Management LLC purchased a new position in shares of Corteva during the 1st quarter valued at approximately $25,000. Rise Advisors LLC grew its holdings in Corteva by 2,522.2% during the 1st quarter. Rise Advisors LLC now owns 472 shares of the company’s stock worth $27,000 after acquiring an additional 454 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Corteva in the fourth quarter valued at about $28,000. Finally, Scarborough Advisors LLC bought a new stake in shares of Corteva in the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wells Fargo & Company cut their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. BMO Capital Markets boosted their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $65.00 price objective on shares of Corteva in a research report on Wednesday, June 12th. KeyCorp lowered their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. decreased their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $61.67.

Corteva Stock Performance

CTVA traded up $1.03 on Friday, hitting $55.58. The company had a trading volume of 4,475,876 shares, compared to its average volume of 3,342,706. The stock has a market cap of $38.74 billion, a price-to-earnings ratio of 70.35, a price-to-earnings-growth ratio of 1.46 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 0.97. The company’s fifty day moving average price is $53.17 and its 200 day moving average price is $54.49. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $58.76.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.83 earnings per share (EPS) for the quarter, topping the consensus estimate 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 net margin of 5.31% and a return on equity of 7.30%. Corteva’s quarterly revenue was up 1.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.60 EPS. Equities analysts predict that Corteva, Inc. will post 2.73 earnings per share for the current fiscal year.

Corteva Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.17 per share. This is an increase from Corteva’s previous quarterly dividend of $0.16. The ex-dividend date is Tuesday, September 3rd. This represents a $0.68 annualized dividend and a yield of 1.22%. Corteva’s dividend payout ratio is presently 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.