Global View Capital Management LLC Takes $412,000 Position in Corteva, Inc. (NYSE:CTVA)

Global View Capital Management LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 7,317 shares of the company's stock, valued at approximately $412,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. KBC Group NV lifted its holdings in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock worth $65,851,000 after buying an additional 815,135 shares during the last quarter. Oak Thistle LLC purchased a new stake in Corteva during the 4th quarter worth about $1,514,000. Charles Schwab Investment Management Inc. lifted its holdings in Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock worth $265,966,000 after buying an additional 66,052 shares during the last quarter. Van ECK Associates Corp lifted its holdings in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock worth $537,031,000 after buying an additional 525,531 shares during the last quarter. Finally, Swedbank AB lifted its holdings in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company's stock worth $39,624,000 after buying an additional 237,764 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

CTVA has been the subject of a number of recent analyst reports. Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. KeyCorp boosted their target price on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a report on Friday, February 7th. BNP Paribas raised Corteva to a "hold" rating in a report on Monday, February 10th. Royal Bank of Canada boosted their target price on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Finally, UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

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Corteva Price Performance

CTVA stock traded up $1.31 on Friday, reaching $59.90. The company had a trading volume of 2,987,577 shares, compared to its average volume of 3,058,323. Corteva, Inc. has a 1 year low of $50.01 and a 1 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 company's fifty day moving average is $61.88 and its 200 day moving average is $59.63. The company has a market cap of $41.06 billion, a P/E ratio of 46.43, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA - Get Free Report) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 1.14%. Corteva's payout ratio is 52.71%.

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 shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.14% of the company's stock.

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.