Kingsview Wealth Management LLC Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Kingsview Wealth Management LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 75.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,008 shares of the company's stock after selling 34,174 shares during the period. Kingsview Wealth Management LLC's holdings in Corteva were worth $627,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CTVA. Chicago Partners Investment Group LLC boosted its stake in shares of Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after purchasing an additional 156 shares in the last quarter. Roble Belko & Company Inc boosted its stake in shares of Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock valued at $180,000 after purchasing an additional 166 shares in the last quarter. Rovin Capital UT ADV boosted its stake in shares of Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company's stock valued at $754,000 after purchasing an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC boosted its stake 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 purchasing an additional 174 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its stake in shares of Corteva by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company's stock valued at $472,000 after purchasing an additional 174 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 1.8 %

Shares of NYSE:CTVA traded up $1.14 during mid-day trading on Friday, hitting $64.00. The company had a trading volume of 3,906,167 shares, compared to its average volume of 3,806,061. The firm has a fifty day moving average price of $60.39 and a 200 day moving average price of $58.49. The company has a market capitalization of $43.99 billion, a PE ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $50.01 and a one year 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 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%. As a group, research analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its board has initiated a share 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 often a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Oppenheimer lifted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Bank of America lifted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. UBS Group lowered their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Finally, Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.73.

Corteva Company 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.