18,242 Shares in Corteva, Inc. (NYSE:CTVA) Purchased by Snider Financial Group

Snider Financial Group bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 18,242 shares of the company’s stock, valued at approximately $1,039,000.

Other institutional investors have also recently made changes to their positions in the company. Noble Wealth Management PBC acquired a new position in shares of Corteva during the 4th quarter worth about $26,000. Hager Investment Management Services LLC purchased a new position in shares of Corteva in the 4th quarter valued at $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva during the 4th quarter worth $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at $34,000. Finally, First Financial Corp IN purchased a new position in shares of Corteva during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 1.1 %

Shares of Corteva stock opened at $59.77 on Wednesday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market capitalization of $40.97 billion, a price-to-earnings ratio of 46.33, a PEG ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The business’s 50 day simple moving average is $61.45 and its 200-day simple moving average is $59.42.

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

Corteva declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The business 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. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on CTVA shares. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Oppenheimer raised their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.79.

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.