Empowered Funds LLC lessened its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 39.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 32,240 shares of the company's stock after selling 20,585 shares during the quarter. Empowered Funds LLC's holdings in Corteva were worth $1,836,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva during the 4th quarter valued at approximately $32,000. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after buying an additional 174 shares during the period. First Financial Corp IN purchased a new position in Corteva in the 4th quarter valued at approximately $35,000. Finally, Albion Financial Group UT grew 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 buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on CTVA shares. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Bank of America raised their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. BNP Paribas upgraded Corteva to a "hold" rating in a research report on Monday, February 10th. Wells Fargo & Company raised their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an "overweight" rating in a research report on Tuesday, January 28th. Finally, Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $67.73.
Get Our Latest Stock Report on Corteva
Corteva Price Performance
CTVA traded down $0.81 during trading on Wednesday, reaching $63.65. The stock had a trading volume of 1,785,600 shares, compared to its average volume of 3,623,690. The business has a 50-day moving average of $60.58 and a 200-day moving average of $58.67. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $43.75 billion, a PE ratio of 49.34, a PEG ratio of 1.68 and a beta of 0.78.
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 the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. As a group, equities research analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.
Corteva declared that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's board of directors believes its shares are undervalued.
Corteva Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is 52.71%.
About Corteva
(
Free Report)
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.
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