7,245 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Ashton Thomas Private Wealth LLC

Ashton Thomas Private Wealth LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 7,245 shares of the company's stock, valued at approximately $413,000.

A number of other hedge funds also recently bought and sold shares of the company. Noble Wealth Management PBC acquired a new stake in shares of Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva in the fourth quarter valued at $32,000. Centricity Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter valued at $34,000. Finally, First Financial Corp IN purchased a new stake in Corteva in the 4th quarter worth about $35,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE:CTVA traded up $1.31 during midday trading on Friday, hitting $59.90. The company's stock had a trading volume of 2,987,577 shares, compared to its average volume of 3,058,323. The stock's 50 day simple moving average is $61.88 and its 200 day simple moving average is $59.63. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The stock has a market capitalization of $41.06 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

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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 analysts' consensus estimates 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, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva's payout ratio is 52.71%.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was 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 of the company's stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

CTVA has been the subject of several research reports. Bank of America raised their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $68.00.

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.