2,115 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Whipplewood Advisors LLC

Whipplewood Advisors LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,115 shares of the company’s stock, valued at approximately $120,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CTVA. Hager Investment Management Services LLC purchased a new stake in Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the 4th quarter worth about $32,000. Centricity Wealth Management LLC acquired a new stake in Corteva in the 4th quarter worth about $34,000. First Financial Corp IN acquired a new stake in Corteva in the 4th quarter worth about $35,000. Finally, Albion Financial Group UT boosted its stake in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after buying an additional 321 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $62.82 on Friday. The company has a market cap of $43.07 billion, a P/E ratio of 48.70, a PEG ratio of 1.68 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. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The business’s 50-day simple moving average is $61.23 and its 200 day simple moving average is $59.14.

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

Corteva announced that its board has initiated 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 repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The firm 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred on Thursday, February 20th. The stock was 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. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 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 note on Tuesday, January 21st. Finally, Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus 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.