Clifford Swan Investment Counsel LLC Grows Position in Corteva, Inc. (NYSE:CTVA)

Clifford Swan Investment Counsel LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 453,271 shares of the company’s stock after acquiring an additional 26,839 shares during the quarter. Clifford Swan Investment Counsel LLC’s holdings in Corteva were worth $21,721,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. CVA Family Office LLC purchased a new stake in shares of Corteva during the 4th quarter worth approximately $25,000. NewSquare Capital LLC raised its stake in Corteva by 70.6% during the third quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after purchasing an additional 226 shares in the last quarter. Glass Jacobson Investment Advisors llc lifted its position in Corteva by 234.3% during the third quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after purchasing an additional 389 shares during the last quarter. BKM Wealth Management LLC purchased a new position in shares of Corteva in the 4th quarter worth $27,000. Finally, Naples Money Management LLC bought a new position in shares of Corteva in the 4th quarter valued at about $31,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CTVA. UBS Group decreased their price target on Corteva from $65.00 to $64.00 and set a “buy” rating on the stock in a report on Thursday, January 11th. Wells Fargo & Company raised their price objective on shares of Corteva from $66.00 to $67.00 and gave the stock an “overweight” rating in a research note on Friday. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. KeyCorp lifted their target price on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Finally, BMO Capital Markets lifted their price target on shares of Corteva from $64.00 to $67.00 and gave the company an “outperform” rating in a research note on Friday. Six investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.38.

Corteva Stock Up 0.3 %

Shares of NYSE CTVA traded up $0.18 during trading hours on Friday, hitting $57.16. 2,977,563 shares of the stock were exchanged, compared to its average volume of 2,761,026. The firm has a fifty day moving average price of $55.37 and a 200-day moving average price of $50.65. The company has a quick ratio of 0.90, a current ratio of 1.51 and a debt-to-equity ratio of 0.10. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $60.57. The company has a market cap of $39.95 billion, a PE ratio of 72.35, a PEG 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $4.49 billion for the quarter, compared to the consensus estimate of $4.65 billion. Corteva had a net margin of 3.32% and a return on equity of 6.68%. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.16 earnings per share. On average, sell-side analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Dividend Announcement

The company 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 is Tuesday, June 4th. Corteva’s payout ratio is 81.01%.

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.