J.Safra Asset Management Corp Invests $37,000 in Corteva, Inc. (NYSE:CTVA)

J.Safra Asset Management Corp acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 648 shares of the company’s stock, valued at approximately $37,000.

Other large investors also recently made changes to their positions in the company. Noble Wealth Management PBC bought a new position in Corteva in the fourth quarter valued at $26,000. Hager Investment Management Services LLC bought a new position in Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the fourth quarter valued at $32,000. Centricity Wealth Management LLC bought a new position in Corteva in the fourth quarter valued at $34,000. Finally, First Financial Corp IN bought a new position in Corteva in the fourth quarter valued at $35,000. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Shares of Corteva stock opened at $61.17 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market capitalization of $41.94 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a 50-day simple moving average of $61.52 and a two-hundred day simple moving average of $59.44.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva announced that its board has approved a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on CTVA shares. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Royal Bank of Canada increased 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. Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

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.