WCM Investment Management LLC Cuts Position in Corteva, Inc. (NYSE:CTVA)

WCM Investment Management LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,879,417 shares of the company's stock after selling 42,393 shares during the quarter. WCM Investment Management LLC owned 1.00% of Corteva worth $389,100,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter worth about $32,000. Capital Advisors Ltd. LLC grew its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN acquired a new position in Corteva during the fourth quarter worth approximately $35,000. Finally, Albion Financial Group UT raised its stake in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company's stock valued at $35,000 after acquiring an additional 321 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday. Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. Oppenheimer upped their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Barclays boosted their price objective 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, UBS Group dropped their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $67.56.

Corteva Price Performance

Corteva stock traded down $0.95 during mid-day trading on Wednesday, hitting $62.02. The stock had a trading volume of 2,566,068 shares, compared to its average volume of 3,752,006. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The firm's 50 day moving average is $60.24 and its 200 day moving average is $58.35. The firm has a market capitalization of $42.63 billion, a P/E ratio of 48.08, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings data 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%. On average, sell-side analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

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

Corteva Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.10%. Corteva's dividend payout ratio is currently 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.