Koss Olinger Consulting LLC Buys Shares of 10,846 Corteva, Inc. (NYSE:CTVA)

Koss Olinger Consulting LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,846 shares of the company’s stock, valued at approximately $618,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Flagship Wealth Advisors LLC purchased a new stake in shares of Corteva in the fourth quarter worth $25,000. Noble Wealth Management PBC purchased a new stake in shares of Corteva in the fourth quarter worth $26,000. Hager Investment Management Services LLC purchased a new stake in shares of Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva in the fourth quarter worth $32,000. Finally, Centricity Wealth Management LLC purchased a new position in Corteva during the fourth quarter valued at $34,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several research analyst reports. UBS Group cut their target price 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. Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company raised their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. One research 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm’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 owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.20% of the stock is currently owned by insiders.

Corteva Price Performance

Corteva stock opened at $61.51 on Wednesday. The firm has a 50-day moving average price of $62.14 and a 200-day moving average price of $59.77. The firm has a market capitalization of $42.17 billion, a PE ratio of 47.68, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. 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 released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. As a group, equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors 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.