Beacon Capital Management LLC Has $76,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Beacon Capital Management LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 13.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 1,341 shares of the company’s stock after purchasing an additional 158 shares during the period. Beacon Capital Management LLC’s holdings in Corteva were worth $76,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its stake in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after buying an additional 156 shares during the period. Avidian Wealth Enterprises LLC increased its holdings in Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Roble Belko & Company Inc increased 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 in the last quarter. Rovin Capital UT ADV increased its holdings in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares in the last quarter. Finally, Capital Advisors Ltd. LLC increased its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA opened at $64.00 on Monday. The firm has a market cap of $43.99 billion, a price-to-earnings ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. The stock has a fifty day simple moving average of $60.39 and a two-hundred day simple moving average of $58.49. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva announced that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company’s board believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Analyst Ratings Changes

A number of analysts have commented on the company. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. BNP Paribas raised Corteva to a “hold” rating in a report on Monday, February 10th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada upped their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.73.

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.