Y Intercept Hong Kong Ltd Makes New $1.90 Million Investment in Corteva, Inc. (NYSE:CTVA)

Y Intercept Hong Kong Ltd bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 33,353 shares of the company’s stock, valued at approximately $1,900,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC bought a new position in Corteva during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC bought a new position in Corteva during the fourth quarter worth about $32,000. Centricity Wealth Management LLC bought a new position in Corteva during the fourth quarter worth about $34,000. First Financial Corp IN purchased a new stake in shares of Corteva in the fourth quarter worth about $35,000. Finally, Albion Financial Group UT lifted its holdings in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Bank of America raised their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. UBS Group cut their price target 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. Finally, Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Price Performance

Shares of NYSE:CTVA opened at $62.96 on Wednesday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The business has a 50-day simple moving average of $60.97 and a two-hundred day simple moving average of $59.09. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a market cap of $43.16 billion, a price-to-earnings ratio of 48.80, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its earnings results 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%. On average, analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. 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 1.08%. Corteva’s dividend payout ratio is currently 52.71%.

Corteva declared that its Board of Directors has initiated a share buyback plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Company 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.