Yousif Capital Management LLC Sells 2,987 Shares of Corteva, Inc. (NYSE:CTVA)

Yousif Capital Management LLC lessened its stake in Corteva, Inc. (NYSE:CTVA) by 3.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,038 shares of the company’s stock after selling 2,987 shares during the period. Yousif Capital Management LLC’s holdings in Corteva were worth $5,356,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after acquiring an additional 156 shares during the last quarter. Roble Belko & Company Inc raised its holdings in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the last quarter. Rovin Capital UT ADV lifted its position in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the last quarter. Finally, Proffitt & Goodson Inc. grew its position in shares of Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $62.33 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $42.84 billion, a price-to-earnings ratio of 62.96, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The stock’s 50-day moving average is $60.22 and its 200-day moving average is $58.11. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

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 4.18% and a return on equity of 6.63%. Equities analysts predict that Corteva, Inc. will post 2.58 earnings per share for the current fiscal year.

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 paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s payout ratio is currently 52.71%.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTVA shares. KeyCorp reduced their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Bank of America lifted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $67.06.

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.