Summit Wealth & Retirement Planning Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 5,216 shares of the company’s stock, valued at approximately $202,000.
Several other hedge funds also recently modified their holdings of the company. JFS Wealth Advisors LLC raised its position in Corteva by 71.5% in the third quarter. JFS Wealth Advisors LLC now owns 943 shares of the company’s stock valued at $27,000 after purchasing an additional 393 shares during the period. Advisory Alpha LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at $30,000. Endurance Wealth Management Inc. lifted its stake in Corteva by 164.6% during the 3rd quarter. Endurance Wealth Management Inc. now owns 1,098 shares of the company’s stock worth $32,000 after acquiring an additional 683 shares in the last quarter. Iron Horse Wealth Management LLC purchased a new position in Corteva during the 4th quarter valued at about $32,000. Finally, CX Institutional boosted its holdings in Corteva by 35.6% during the 4th quarter. CX Institutional now owns 861 shares of the company’s stock valued at $33,000 after acquiring an additional 226 shares during the period. Hedge funds and other institutional investors own 77.15% of the company’s stock.
CTVA has been the subject of several recent research reports. Royal Bank of Canada raised their price objective on shares of Corteva from $45.00 to $52.00 and gave the company an “outperform” rating in a research note on Friday, February 5th. UBS Group raised their price target on shares of Corteva from $44.00 to $48.00 and gave the company a “buy” rating in a research report on Thursday, February 4th. JPMorgan Chase & Co. raised Corteva from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $32.00 to $51.00 in a research report on Friday, February 5th. Deutsche Bank Aktiengesellschaft increased their price objective on Corteva from $40.00 to $50.00 and gave the company a “buy” rating in a research note on Friday, January 8th. Finally, KeyCorp boosted their target price on Corteva from $49.00 to $51.00 and gave the stock an “overweight” rating in a research note on Friday, February 5th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Corteva presently has a consensus rating of “Hold” and an average target price of $40.83.
Corteva (NYSE:CTVA) last posted its quarterly earnings data on Tuesday, February 2nd. The company reported $0.04 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.09. The business had revenue of $3.21 billion during the quarter, compared to the consensus estimate of $2.95 billion. Corteva had a return on equity of 4.70% and a net margin of 4.42%. The company’s revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.07 earnings per share. On average, equities analysts predict that Corteva, Inc. will post 1.4 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 15th. Shareholders of record on Monday, March 1st will be given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.11%. The ex-dividend date is Friday, February 26th. Corteva’s payout ratio is currently 36.36%.
In other Corteva news, insider Brian Titus sold 8,545 shares of Corteva stock in a transaction on Friday, December 4th. The shares were sold at an average price of $38.50, for a total value of $328,982.50. Following the transaction, the insider now directly owns 21,049 shares in the company, valued at $810,386.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.22% 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 weeds, as well as food and nutritional characteristics.
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