Summit Trail Advisors LLC Has $1.19 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Summit Trail Advisors LLC increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,798 shares of the company’s stock after purchasing an additional 281 shares during the period. Summit Trail Advisors LLC’s holdings in Corteva were worth $1,185,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in CTVA. Hager Investment Management Services LLC bought a new position in Corteva in the fourth quarter worth approximately $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the fourth quarter worth approximately $32,000. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN bought a new position in Corteva in the fourth quarter worth approximately $35,000. Finally, Albion Financial Group UT boosted its holdings in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE:CTVA opened at $63.01 on Wednesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The business has a fifty day simple moving average of $60.22 and a two-hundred day simple moving average of $58.30. 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 $43.31 billion, a P/E ratio of 48.85, a P/E/G 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 (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, analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva announced that its board has initiated a share buyback program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on CTVA. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Citigroup raised their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company raised their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. One equities 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 company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.56.

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.