Golden State Wealth Management LLC Buys Shares of 565 Corteva, Inc. (NYSE:CTVA)

Golden State Wealth Management LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 565 shares of the company’s stock, valued at approximately $32,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. 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 worth $759,000 after acquiring an additional 156 shares during the period. Roble Belko & Company Inc raised its stake in Corteva by 5.5% during the 4th 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 during the last quarter. Rovin Capital UT ADV boosted its holdings in Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. Finally, Proffitt & Goodson Inc. increased its holdings in shares of Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company lifted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Oppenheimer raised their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Bank of America boosted their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Finally, Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.56.

Corteva Price Performance

Corteva stock opened at $63.01 on Wednesday. The business’s fifty day moving average is $60.22 and its two-hundred day moving average is $58.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The firm has a market cap of $43.31 billion, a P/E ratio of 48.85, a P/E/G ratio of 1.85 and a beta of 0.78. 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 results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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%. Equities research analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed 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. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva announced that its board has approved a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s board believes its shares are undervalued.

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.