Schnieders Capital Management LLC Trims Stake in Corteva, Inc. (NYSE:CTVA)

Schnieders Capital Management LLC cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,076 shares of the company’s stock after selling 420 shares during the quarter. Schnieders Capital Management LLC’s holdings in Corteva were worth $460,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. Whipplewood Advisors LLC bought a new position in Corteva in the 4th quarter worth $120,000. Lake Street Advisors Group LLC boosted its position in shares of Corteva by 3.7% during the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after buying an additional 160 shares during the period. Illinois Municipal Retirement Fund purchased a new stake in shares of Corteva in the fourth quarter valued at approximately $12,860,000. Exchange Capital Management Inc. boosted its holdings in shares of Corteva by 0.8% in the fourth quarter. Exchange Capital Management Inc. now owns 56,337 shares of the company’s stock valued at $3,209,000 after purchasing an additional 469 shares during the period. Finally, Crestwood Advisors Group LLC lifted its holdings in Corteva by 39.6% during the fourth quarter. Crestwood Advisors Group LLC now owns 6,823 shares of the company’s stock worth $389,000 after buying an additional 1,934 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.5 %

Shares of CTVA opened at $62.65 on Thursday. The firm’s 50 day moving average is $61.09 and its 200-day moving average is $59.12. The stock has a market capitalization of $42.95 billion, a PE ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

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

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is presently 52.71%.

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

Analyst Ratings Changes

Several equities research analysts have weighed in on CTVA shares. Bank of America increased their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Finally, Citigroup boosted their price target on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Insider Transactions 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 shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is currently owned by 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.