Corteva, Inc. (NYSE:CTVA) Shares Bought by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 39.6% in the fourth quarter, HoldingsChannel reports. The fund owned 6,823 shares of the company’s stock after buying an additional 1,934 shares during the period. Crestwood Advisors Group LLC’s holdings in Corteva were worth $389,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter worth $34,000. First Financial Corp IN bought a new stake in shares of Corteva in the 4th quarter worth $35,000. Finally, Albion Financial Group UT raised its stake in shares of Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after buying an additional 321 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research reports. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, Oppenheimer boosted 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. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Insider Buying and Selling at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $62.96 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 0.93 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.80, a P/E/G ratio of 1.68 and a beta of 0.78. The stock’s fifty day simple moving average is $60.97 and its 200-day simple moving average is $59.09.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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%. On average, sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

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

Corteva announced that its board has initiated a stock repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its stock is 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.