Corteva, Inc. (NYSE:CTVA) Position Cut by Wilmington Savings Fund Society FSB

Wilmington Savings Fund Society FSB decreased its position in Corteva, Inc. (NYSE:CTVA) by 8.1% in the 4th quarter, Holdings Channel.com reports. The firm owned 40,500 shares of the company’s stock after selling 3,580 shares during the period. Wilmington Savings Fund Society FSB’s holdings in Corteva were worth $2,307,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. Apollon Wealth Management LLC increased its holdings in shares of Corteva by 10.9% during the fourth quarter. Apollon Wealth Management LLC now owns 6,891 shares of the company’s stock valued at $392,000 after purchasing an additional 678 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of Corteva by 5.7% in the 4th quarter. Cidel Asset Management Inc. now owns 3,756 shares of the company’s stock worth $214,000 after acquiring an additional 204 shares during the period. Golden State Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter valued at approximately $32,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Corteva by 1.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,555 shares of the company’s stock valued at $4,304,000 after purchasing an additional 1,165 shares in the last quarter. Finally, Strategic Financial Concepts LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $655,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research reports. Barclays raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday. Finally, Royal Bank of Canada increased their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.31.

Corteva Stock Performance

CTVA stock opened at $62.32 on Monday. The company has a market capitalization of $42.83 billion, a price-to-earnings ratio of 48.31, a P/E/G ratio of 1.85 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 firm has a 50 day moving average of $60.22 and a two-hundred day moving average of $58.22. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently declared 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Corteva announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.