Proficio Capital Partners LLC Buys New Position in Corteva, Inc. (NYSE:CTVA)

Proficio Capital Partners LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 132,797 shares of the company's stock, valued at approximately $7,564,000.

A number of other large investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC increased its holdings in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC raised its holdings in shares of Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after buying an additional 157 shares during the last quarter. Beacon Capital Management LLC lifted its position in Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC grew its holdings in Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after acquiring an additional 160 shares during the last quarter. Finally, Roble Belko & Company Inc increased its position in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock valued at $180,000 after acquiring an additional 166 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on CTVA. UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, February 7th. Finally, Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $67.79.

Corteva Stock Up 2.3 %

CTVA stock traded up $1.37 during mid-day trading on Wednesday, hitting $61.17. 3,807,538 shares of the company were exchanged, compared to its average volume of 3,566,760. The firm has a market cap of $41.94 billion, a P/E ratio of 47.42, a P/E/G ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The firm's 50 day simple moving average is $61.45 and its 200 day simple moving average is $59.42. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date is Monday, March 3rd. Corteva's dividend payout ratio is 52.71%.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's management believes its stock is undervalued.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

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.