Addison Capital Co Reduces Position in Corteva, Inc. (NYSE:CTVA)

Addison Capital Co reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 8.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,227 shares of the company’s stock after selling 1,077 shares during the period. Addison Capital Co’s holdings in Corteva were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Noble Wealth Management PBC acquired a new stake in Corteva during the fourth quarter worth $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva in the 4th quarter valued at about $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at about $34,000. Finally, First Financial Corp IN purchased a new position in Corteva during the fourth quarter worth about $35,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Citigroup upped their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note 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 research note on Friday, January 10th. Finally, Bank of America raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average target price of $68.00.

Corteva Stock Up 2.2 %

Corteva stock opened at $59.90 on Monday. The stock has a market cap of $41.06 billion, a PE ratio of 46.43, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock’s fifty day moving average is $61.96 and its two-hundred day moving average is $59.71. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal 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 given a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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

Insider Buying and Selling at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm’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 transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.14% of the stock is currently owned by insiders.

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.