Strategic Financial Concepts LLC Invests $655,000 in Corteva, Inc. (NYSE:CTVA)

Strategic Financial Concepts LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,499 shares of the company’s stock, valued at approximately $655,000.

A number of other large investors have also recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its stake in Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares during the period. Roble Belko & Company Inc grew its position in shares of 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 buying an additional 166 shares during the period. Rovin Capital UT ADV increased its stake in shares of Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC lifted its position in shares of 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 acquiring an additional 174 shares during the period. Finally, Proffitt & Goodson Inc. boosted its stake in Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Citigroup increased their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. KeyCorp upped their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Oppenheimer lifted their price target 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. Finally, Barclays upped their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

Corteva Stock Up 1.3 %

CTVA opened at $63.01 on Wednesday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company’s 50-day moving average price is $60.22 and its two-hundred day moving average price is $58.30. The stock has a market cap of $43.31 billion, a price-to-earnings ratio of 48.85, a PEG ratio of 1.85 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

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%. As a group, equities analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given 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 yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva announced that its board has initiated a stock repurchase plan 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

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.