Koss Olinger Consulting LLC Buys Shares of 10,846 Corteva, Inc. (NYSE:CTVA)

Koss Olinger Consulting LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, Holdings Channel reports. The fund bought 10,846 shares of the company’s stock, valued at approximately $618,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Raymond James Financial Inc. purchased a new position in shares of Corteva in the 4th quarter worth approximately $161,052,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva in the 3rd quarter worth approximately $99,869,000. Franklin Resources Inc. boosted its stake in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares in the last quarter. State Street Corp boosted its stake in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of NYSE CTVA opened at $61.51 on Wednesday. The company’s fifty day moving average price is $62.14 and its 200 day moving average price is $59.77. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a market capitalization of $42.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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, research analysts predict 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 was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date was Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its board has authorized a share buyback program 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 programs are typically a sign that the company’s board believes its stock is undervalued.

Wall Street Analyst Weigh In

CTVA has been the subject of a number of recent analyst reports. Bank of America lifted their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. KeyCorp lifted their target price 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. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.00.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.20% of the stock is currently owned by company 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.