Bryn Mawr Capital Management LLC Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Bryn Mawr Capital Management LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 99.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,714 shares of the company’s stock after buying an additional 38,816 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Corteva were worth $4,427,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Exchange Traded Concepts LLC lifted its position in shares of Corteva by 1,058.7% in the third quarter. Exchange Traded Concepts LLC now owns 2,329 shares of the company’s stock worth $137,000 after buying an additional 2,128 shares in the last quarter. Creative Planning increased its stake in Corteva by 1.3% in the 3rd quarter. Creative Planning now owns 139,342 shares of the company’s stock worth $8,192,000 after acquiring an additional 1,784 shares during the last quarter. Raymond James & Associates raised its holdings in shares of Corteva by 23.1% during the 3rd quarter. Raymond James & Associates now owns 505,375 shares of the company’s stock worth $29,711,000 after acquiring an additional 94,689 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Corteva by 19.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock valued at $2,850,000 after acquiring an additional 7,923 shares during the last quarter. Finally, Oakworth Capital Inc. grew its holdings in shares of Corteva by 67.8% in the third quarter. Oakworth Capital Inc. now owns 1,178 shares of the company’s stock valued at $69,000 after purchasing an additional 476 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Royal Bank of Canada upped their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Oppenheimer raised their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Trading Down 1.3 %

NYSE CTVA opened at $63.65 on Thursday. 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, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company’s 50-day moving average price is $60.65 and its 200-day moving average price is $58.71. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

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 1.07%. Corteva’s payout ratio is currently 52.71%.

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

About Corteva

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.