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

D.A. Davidson & CO. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 53,580 shares of the company’s stock after selling 899 shares during the quarter. D.A. Davidson & CO.’s holdings in Corteva were worth $3,052,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in CTVA. Creative Planning raised its position in shares of Corteva by 1.3% during the 3rd quarter. Creative Planning now owns 139,342 shares of the company’s stock valued at $8,192,000 after buying an additional 1,784 shares in the last quarter. Raymond James & Associates raised its position in shares of Corteva by 23.1% during the 3rd quarter. Raymond James & Associates now owns 505,375 shares of the company’s stock valued at $29,711,000 after buying an additional 94,689 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Corteva by 19.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 48,470 shares of the company’s stock valued at $2,850,000 after buying an additional 7,923 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in Corteva by 31.7% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 22,682 shares of the company’s stock worth $1,333,000 after purchasing an additional 5,466 shares during the period. Finally, Eastern Bank purchased a new stake in Corteva in the 3rd quarter worth about $332,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on CTVA shares. Wells Fargo & Company increased their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Price Performance

NYSE CTVA opened at $63.77 on Friday. 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 firm’s 50 day moving average price is $60.74 and its 200-day moving average price is $58.74. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a market cap of $43.72 billion, a PE ratio of 49.44, a P/E/G ratio of 1.70 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.07%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva announced that its Board of Directors has authorized a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.