Summit Trail Advisors LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Summit Trail Advisors LLC increased its stake in Corteva, Inc. (NYSE:CTVA) by 1.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 20,798 shares of the company’s stock after buying an additional 281 shares during the quarter. Summit Trail Advisors LLC’s holdings in Corteva were worth $1,185,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC bought a new stake in Corteva during the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new stake in Corteva during the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC boosted its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the period. First Financial Corp IN bought a new stake in Corteva during the fourth quarter valued at $35,000. Finally, Albion Financial Group UT boosted its stake in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Bank of America lifted their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Barclays lifted their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Oppenheimer lifted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.56.

Corteva Trading Up 1.3 %

NYSE CTVA opened at $63.01 on Wednesday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a 50-day moving average of $60.22 and a 200-day moving average of $58.30. The firm has a market cap of $43.31 billion, a PE ratio of 48.85, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released 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 net margin of 5.36% and a return on equity of 7.19%. As a group, sell-side analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.