Corteva, Inc. (NYSE:CTVA) Shares Purchased by Staley Capital Advisers Inc.

Staley Capital Advisers Inc. raised its stake in Corteva, Inc. (NYSE:CTVA) by 0.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 559,282 shares of the company’s stock after purchasing an additional 3,550 shares during the period. Corteva comprises 1.4% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 23rd biggest position. Staley Capital Advisers Inc. owned approximately 0.08% of Corteva worth $31,857,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Noble Wealth Management PBC purchased a new stake in Corteva during the 4th quarter worth about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the 4th quarter worth about $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the fourth quarter worth approximately $32,000. Centricity Wealth Management LLC acquired a new position in Corteva in the fourth quarter valued at approximately $34,000. Finally, First Financial Corp IN purchased a new position in Corteva in the fourth quarter valued at approximately $35,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Corteva stock opened at $60.23 on Tuesday. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a market capitalization of $41.29 billion, a price-to-earnings ratio of 46.69, a PEG ratio of 1.68 and a beta of 0.79. The stock has a fifty day moving average of $61.73 and a two-hundred day moving average of $59.61. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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%. On average, analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.13%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Insider Activity at Corteva

In related 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 transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This 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 this hyperlink. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on CTVA shares. Royal Bank of Canada upped 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. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. KeyCorp lifted their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $67.79.

Corteva 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.