D.A. Davidson & CO. Decreases Holdings in Corteva, Inc. (NYSE:CTVA)

D.A. Davidson & CO. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,580 shares of the company’s stock after selling 899 shares during the period. D.A. Davidson & CO.’s holdings in Corteva were worth $3,052,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the 4th quarter valued at $32,000. Capital Advisors Ltd. LLC raised its stake in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the last quarter. First Financial Corp IN purchased a new stake in Corteva during the 4th quarter valued at $35,000. Finally, Albion Financial Group UT raised its stake in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CTVA. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Citigroup boosted their price objective 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. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Corteva Trading Up 0.2 %

Shares of Corteva stock opened at $63.77 on Friday. The company has a market capitalization of $43.72 billion, a P/E ratio of 49.44, a P/E/G ratio of 1.70 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The company has a fifty day moving average of $60.74 and a 200 day moving average of $58.74. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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%. On average, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

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

Corteva Dividend Announcement

The business also recently disclosed 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 annualized dividend and a dividend yield of 1.07%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.