Sequoia Financial Advisors LLC Sells 7,047 Shares of Corteva, Inc. (NYSE:CTVA)

Sequoia Financial Advisors LLC lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 31.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 15,635 shares of the company’s stock after selling 7,047 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corteva were worth $891,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of CTVA. Noble Wealth Management PBC bought a new position in shares of Corteva during the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC bought a new position in shares of Corteva during the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at $32,000. Centricity Wealth Management LLC bought a new position in Corteva in the 4th quarter valued at $34,000. Finally, First Financial Corp IN bought a new position in Corteva in the 4th quarter valued at $35,000. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 2.2 %

Shares of NYSE CTVA opened at $59.90 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The stock has a market capitalization of $41.06 billion, a P/E ratio of 46.43, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The business has a fifty day moving average price of $61.96 and a 200 day moving average price of $59.71.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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 return on equity of 7.19% and a net margin of 5.36%. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has approved a share repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows 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 board believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the 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 completion of the sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

CTVA has been the topic of several research analyst reports. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group initiated coverage on Corteva in a research report on Thursday. They issued a “buy” rating and a $71.00 price objective on the stock. Wells Fargo & Company upped their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. KeyCorp upped their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

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.