Generali Asset Management SPA SGR Grows Position in Corteva, Inc. $CTVA

Generali Asset Management SPA SGR boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 97.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,713 shares of the company’s stock after acquiring an additional 25,499 shares during the period. Generali Asset Management SPA SGR’s holdings in Corteva were worth $3,497,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Norges Bank purchased a new position in shares of Corteva during the second quarter valued at about $434,220,000. Pacer Advisors Inc. boosted its stake in Corteva by 4,007.1% during the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock valued at $165,164,000 after buying an additional 2,382,715 shares during the last quarter. WCM Investment Management LLC grew its holdings in Corteva by 29.6% during the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after buying an additional 2,066,519 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Corteva by 4,769.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 1,924,419 shares of the company’s stock worth $143,427,000 after acquiring an additional 1,884,897 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Corteva by 1,365.9% during the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after acquiring an additional 1,686,309 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on CTVA shares. Rothschild & Co Redburn cut their target price on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada lowered their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, October 17th. Morgan Stanley set a $84.00 target price on shares of Corteva in a report on Monday, September 15th. KeyCorp restated a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. Finally, The Goldman Sachs Group increased their price target on shares of Corteva from $77.00 to $78.00 and gave the company a “buy” rating in a report on Tuesday, December 16th. Sixteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.21.

Corteva Price Performance

Corteva stock opened at $67.80 on Friday. The firm has a 50-day moving average price of $65.53 and a 200-day moving average price of $69.00. The firm has a market capitalization of $45.81 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.38 and a beta of 0.74. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $53.40 and a 12-month high of $77.41.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating the consensus estimate of ($0.49) by $0.26. The company had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.49) EPS. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Monday, December 1st. Corteva’s dividend payout ratio is presently 30.77%.

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.