SRS Capital Advisors Inc. Sells 738 Shares of Corteva, Inc. (NYSE:CTVA)

SRS Capital Advisors Inc. lessened its holdings in Corteva, Inc. (NYSE:CTVA) by 27.1% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,983 shares of the company’s stock after selling 738 shares during the period. SRS Capital Advisors Inc.’s holdings in Corteva were worth $113,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. KBC Group NV boosted its holdings in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares in the last quarter. Oak Thistle LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $1,514,000. Charles Schwab Investment Management Inc. grew its holdings in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares in the last quarter. Finally, Swedbank AB lifted its holdings in shares of Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after purchasing an additional 237,764 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 2.3 %

Corteva stock opened at $61.17 on Thursday. The business’s 50-day moving average price is $61.52 and its 200 day moving average price is $59.44. 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 $41.94 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA) last issued 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 7.19% and a net margin of 5.36%. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva declared that its board has authorized a share buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, Oppenheimer upped their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.79.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

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.