Gladstone Institutional Advisory LLC Has $576,000 Stake in Corteva, Inc. (NYSE:CTVA)

Gladstone Institutional Advisory LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,118 shares of the company’s stock after selling 303 shares during the period. Gladstone Institutional Advisory LLC’s holdings in Corteva were worth $576,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Leavell Investment Management Inc. grew its holdings in Corteva by 1.0% during the 4th quarter. Leavell Investment Management Inc. now owns 22,018 shares of the company’s stock worth $1,254,000 after acquiring an additional 212 shares during the period. Quent Capital LLC grew its holdings in Corteva by 5.5% during the 4th quarter. Quent Capital LLC now owns 3,510 shares of the company’s stock worth $200,000 after acquiring an additional 182 shares during the period. Strengthening Families & Communities LLC grew its stake in shares of Corteva by 2.3% in the 4th quarter. Strengthening Families & Communities LLC now owns 43,982 shares of the company’s stock valued at $2,505,000 after buying an additional 999 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Corteva in the 4th quarter valued at about $69,000. Finally, Essex Financial Services Inc. grew its stake in shares of Corteva by 56.0% in the 4th quarter. Essex Financial Services Inc. now owns 10,677 shares of the company’s stock valued at $608,000 after buying an additional 3,833 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock opened at $64.00 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company’s 50 day moving average price is $60.30 and its two-hundred day moving average price is $58.41. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market cap of $43.99 billion, a P/E ratio of 49.61, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva announced that its board has approved a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America raised their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. Oppenheimer raised their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp raised their target price on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target 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.