Hager Investment Management Services LLC Invests $27,000 in Corteva, Inc. (NYSE:CTVA)

Hager Investment Management Services LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 478 shares of the company’s stock, valued at approximately $27,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC raised its holdings in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares in the last quarter. Roble Belko & Company Inc raised its stake in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares in the last quarter. Rovin Capital UT ADV lifted its position in Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC grew its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares in the last quarter. Finally, Proffitt & Goodson Inc. increased its holdings in Corteva by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after buying an additional 174 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Down 3.2 %

Shares of CTVA opened at $63.62 on Thursday. The stock’s 50-day moving average price is $60.20 and its two-hundred day moving average price is $58.07. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a market capitalization of $43.72 billion, a PE ratio of 64.26, a PEG ratio of 1.71 and a beta of 0.78. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 6.63% and a net margin of 4.18%. On average, analysts anticipate that Corteva, Inc. will post 2.58 EPS for the current year.

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is presently 68.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Royal Bank of Canada increased their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. KeyCorp reduced their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Bank of America raised their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Oppenheimer reissued an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $67.06.

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.