Strategic Financial Concepts LLC Acquires Shares of 11,499 Corteva, Inc. (NYSE:CTVA)

Strategic Financial Concepts LLC purchased a new position in Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 11,499 shares of the company's stock, valued at approximately $655,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC grew its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock worth $759,000 after purchasing an additional 156 shares during the period. Roble Belko & Company Inc boosted its holdings in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock worth $180,000 after acquiring an additional 166 shares in the last quarter. Rovin Capital UT ADV boosted its holdings in Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company's stock worth $754,000 after acquiring an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Finally, Proffitt & Goodson Inc. boosted its holdings in Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company's stock worth $472,000 after acquiring an additional 174 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

CTVA stock traded up $1.14 during trading on Friday, reaching $64.00. The stock had a trading volume of 3,906,167 shares, compared to its average volume of 3,806,061. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock's 50 day moving average is $60.39 and its two-hundred day moving average is $58.47. The firm has a market cap of $43.99 billion, a PE ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's management believes its stock is undervalued.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.06%. Corteva's payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

Several research firms have commented on CTVA. BNP Paribas raised Corteva to a "hold" rating in a report on Monday, February 10th. Bank of America boosted their target price on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a report on Tuesday. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a report on Wednesday, January 29th. Finally, UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.73.

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.