Corteva, Inc. (NYSE:CTVA) Shares Acquired by Strategic Advisors LLC

Strategic Advisors LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 46.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,889 shares of the company’s stock after acquiring an additional 1,865 shares during the period. Strategic Advisors LLC’s holdings in Corteva were worth $335,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the third quarter worth about $99,869,000. Franklin Resources Inc. increased its stake in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares in the last quarter. KBC Group NV increased its stake in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. State Street Corp increased its stake in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Corteva by 176.0% during the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $64.00 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The stock has a market capitalization of $43.99 billion, a P/E ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78. The company has a 50 day moving average price of $60.39 and a 200 day moving average price of $58.51. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva (NYSE:CTVA) last posted 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

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

Corteva Dividend Announcement

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 given a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.06%. Corteva’s dividend payout ratio is presently 52.71%.

Analysts Set New Price Targets

A number of analysts have commented on CTVA shares. UBS Group cut their price objective 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. Wells Fargo & Company increased their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Royal Bank of Canada increased their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average 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.