Americana Partners LLC Takes Position in Corteva, Inc. (NYSE:CTVA)

Americana Partners LLC bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 73,568 shares of the company's stock, valued at approximately $4,190,000.

A number of other institutional investors also recently bought and sold shares of the stock. Strategic Advisors LLC boosted its stake in Corteva by 46.3% in the 4th quarter. Strategic Advisors LLC now owns 5,889 shares of the company's stock worth $335,000 after purchasing an additional 1,865 shares in the last quarter. Strategic Financial Concepts LLC purchased a new position in Corteva during the 4th quarter worth approximately $655,000. Allworth Financial LP raised its position in Corteva by 17.3% during the 4th quarter. Allworth Financial LP now owns 13,699 shares of the company's stock worth $856,000 after buying an additional 2,023 shares during the last quarter. Beacon Capital Management LLC raised 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 during the last quarter. Finally, Guyasuta Investment Advisors Inc. raised its position in Corteva by 6.8% during the 4th quarter. Guyasuta Investment Advisors Inc. now owns 3,752 shares of the company's stock worth $214,000 after buying an additional 240 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE CTVA traded up $0.13 on Thursday, hitting $63.77. The company had a trading volume of 2,241,587 shares, compared to its average volume of 3,611,757. The company has a market capitalization of $43.72 billion, a PE ratio of 49.44, a PEG ratio of 1.70 and a beta of 0.78. The company's fifty day moving average price is $60.65 and its 200-day moving average price is $58.71. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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%. As a group, analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva announced that its Board of Directors has initiated a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.07%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTVA. KeyCorp raised their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. BNP Paribas raised shares of Corteva to a "hold" rating in a research report on Monday, February 10th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research report on Tuesday, January 21st. Royal Bank of Canada raised their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and a consensus target price of $67.73.

Corteva Company 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.