Whipplewood Advisors LLC Takes $120,000 Position in Corteva, Inc. (NYSE:CTVA)

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

A number of other institutional investors have also made changes to their positions in the company. State Street Corp increased its holdings in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after acquiring an additional 355,206 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Harris Associates L P increased its holdings in shares of Corteva by 1.4% in the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after acquiring an additional 200,917 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after acquiring an additional 203,126 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of analyst reports. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Citigroup boosted their price objective on 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 Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Trading Up 0.0 %

Shares of Corteva stock opened at $62.82 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $43.07 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The business has a fifty day simple moving average of $61.23 and a 200-day simple moving average of $59.14. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.08%. Corteva’s dividend payout ratio (DPR) is 52.71%.

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

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.14% of the company’s stock.

Corteva 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.