Corteva, Inc. (NYSE:CTVA) Holdings Cut by WCM Investment Management LLC

WCM Investment Management LLC decreased its stake in Corteva, Inc. (NYSE:CTVA) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,879,417 shares of the company’s stock after selling 42,393 shares during the quarter. WCM Investment Management LLC owned approximately 1.00% of Corteva worth $389,100,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hager Investment Management Services LLC bought a new position in shares of Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva during the 4th quarter valued at $32,000. Capital Advisors Ltd. LLC raised its holdings in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN bought a new position in shares of Corteva during the 4th quarter valued at $35,000. Finally, Albion Financial Group UT raised its holdings in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CTVA shares. Wells Fargo & Company raised their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Bank of America lifted their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp lifted their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.31.

Corteva Price Performance

Shares of Corteva stock opened at $62.32 on Friday. 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’s 50-day simple moving average is $60.22 and its 200-day simple moving average is $58.19. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The firm has a market cap of $42.83 billion, a P/E ratio of 48.31, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78.

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 net margin of 5.36% and a return on equity of 7.19%. As a group, research analysts expect that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 1.09%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

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.