Corteva, Inc. $CTVA Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd raised its stake in Corteva, Inc. (NYSE:CTVA) by 280.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,282 shares of the company’s stock after buying an additional 51,819 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Corteva were worth $4,753,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its holdings in Corteva by 0.5% during the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock worth $5,976,436,000 after purchasing an additional 373,680 shares during the last quarter. Geode Capital Management LLC grew its holdings in Corteva by 1.4% in the second quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock valued at $1,339,651,000 after purchasing an additional 251,693 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Corteva by 4.9% in the second quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares in the last quarter. WCM Investment Management LLC raised its stake in shares of Corteva by 29.6% during the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after buying an additional 2,066,519 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Corteva during the 2nd quarter worth $434,220,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $71.68 on Monday. Corteva, Inc. has a 1 year low of $53.40 and a 1 year high of $77.41. The company’s 50 day simple moving average is $67.26 and its 200 day simple moving average is $68.35. The company has a market capitalization of $48.44 billion, a price-to-earnings ratio of 30.63, a PEG ratio of 1.82 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a return on equity of 9.37% and a net margin of 9.19%.The company had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.47 billion. During the same period in the previous year, the firm posted ($0.49) EPS. Corteva’s revenue was up 6.5% on a year-over-year basis. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.0%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is presently 30.77%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research reports. UBS Group lowered their price objective on shares of Corteva from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Thursday, October 30th. BNP Paribas Exane upped their price target on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a report on Monday, November 17th. Mizuho raised their price objective on shares of Corteva from $78.00 to $80.00 and gave the stock an “outperform” rating in a research note on Friday, January 16th. Bank of America lifted their price objective on Corteva from $80.00 to $82.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Jefferies Financial Group reduced their target price on Corteva from $92.00 to $85.00 in a research note on Thursday, October 2nd. Two analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $79.47.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.