Axxcess Wealth Management LLC Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Axxcess Wealth Management LLC lifted its position in Corteva, Inc. (NYSE:CTVA) by 48.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,275 shares of the company’s stock after purchasing an additional 14,445 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Corteva were worth $2,122,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Stratos Wealth Partners LTD. boosted its holdings in shares of Corteva by 14.6% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 11,791 shares of the company’s stock worth $603,000 after purchasing an additional 1,506 shares in the last quarter. Forsta AP Fonden boosted its position in Corteva by 5.1% during the 3rd quarter. Forsta AP Fonden now owns 141,800 shares of the company’s stock valued at $7,254,000 after buying an additional 6,900 shares during the period. Telemus Capital LLC grew its holdings in Corteva by 1.9% in the 3rd quarter. Telemus Capital LLC now owns 34,301 shares of the company’s stock worth $1,755,000 after acquiring an additional 634 shares during the last quarter. Concord Wealth Partners increased its position in shares of Corteva by 486.2% in the third quarter. Concord Wealth Partners now owns 3,576 shares of the company’s stock valued at $183,000 after acquiring an additional 2,966 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in shares of Corteva by 9.3% during the third quarter. Lindbrook Capital LLC now owns 3,186 shares of the company’s stock worth $163,000 after purchasing an additional 271 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA stock traded up $0.18 during trading hours on Friday, hitting $57.16. 2,977,563 shares of the company’s stock were exchanged, compared to its average volume of 2,761,026. The firm has a 50 day moving average of $55.37 and a two-hundred day moving average of $50.66. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $60.57. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. The firm has a market cap of $39.95 billion, a P/E ratio of 72.35, a P/E/G ratio of 1.50 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. Corteva had a return on equity of 6.68% and a net margin of 3.32%. The firm had revenue of $4.49 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company earned $1.16 EPS. The firm’s revenue was down 8.0% compared to the same quarter last year. Sell-side analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 18th. Stockholders of record on Tuesday, June 4th will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Tuesday, June 4th. Corteva’s payout ratio is presently 81.01%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Royal Bank of Canada upped their price target on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Wolfe Research started coverage on shares of Corteva in a research note on Friday, March 1st. They set an “outperform” rating and a $67.00 target price for the company. KeyCorp boosted their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Canaccord Genuity Group raised their price objective on Corteva from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday. Finally, Oppenheimer boosted their target price on Corteva from $67.00 to $69.00 and gave the stock an “outperform” rating in a report on Friday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.38.

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.