Bryn Mawr Capital Management LLC Purchases 38,816 Shares of Corteva, Inc. (NYSE:CTVA)

Bryn Mawr Capital Management LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 99.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 77,714 shares of the company's stock after buying an additional 38,816 shares during the period. Bryn Mawr Capital Management LLC's holdings in Corteva were worth $4,427,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in CTVA. KBC Group NV raised its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. Oak Thistle LLC bought a new position in Corteva in the 4th quarter worth $1,514,000. Charles Schwab Investment Management Inc. raised its holdings in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock worth $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Van ECK Associates Corp raised its holdings in Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Finally, Swedbank AB raised its holdings in Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after purchasing an additional 237,764 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on CTVA shares. Bank of America upped their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday, February 11th. Citigroup increased their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. KeyCorp increased their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price target on shares of 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $67.73.

Corteva Stock Down 1.7 %

NYSE:CTVA traded down $1.08 on Friday, reaching $62.75. 2,476,698 shares of the stock traded hands, compared to its average volume of 3,943,916. The company's fifty day simple moving average is $60.81 and its 200 day simple moving average is $58.82. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $43.02 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 1.68 and a beta of 0.78. 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 announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Equities analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has approved a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company's management believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is 52.71%.

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.