Oppenheimer & Co. Inc. Acquires 20,234 Shares of Corteva, Inc. (NYSE:CTVA)

Oppenheimer & Co. Inc. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 131.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,662 shares of the company's stock after purchasing an additional 20,234 shares during the period. Oppenheimer & Co. Inc.'s holdings in Corteva were worth $2,031,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Hager Investment Management Services LLC bought a new stake in Corteva in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter worth about $32,000. Centricity Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter valued at about $34,000. First Financial Corp IN acquired a new stake in shares of Corteva in the 4th quarter valued at approximately $35,000. Finally, Albion Financial Group UT boosted its stake in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company's stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CTVA. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research note on Tuesday, January 28th. Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. KeyCorp lifted their target price on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Oppenheimer increased their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Finally, UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.79.

Corteva Stock Up 2.3 %

NYSE:CTVA traded up $1.37 during trading hours on Wednesday, reaching $61.17. 3,807,538 shares of the stock were exchanged, compared to its average volume of 3,566,760. The stock has a market cap of $41.94 billion, a PE ratio of 47.42, a PEG ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The firm has a 50 day moving average of $61.45 and a 200 day moving average of $59.42. 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 (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data 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%. On average, equities analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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 $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is 52.71%.

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

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred 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 sale, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

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.