Summit Global Investments Takes Position in Corteva, Inc. (NYSE:CTVA)

Summit Global Investments acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 3,656 shares of the company’s stock, valued at approximately $208,000.

Other institutional investors also recently bought and sold shares of the company. Chicago Partners Investment Group LLC increased its stake in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after acquiring an additional 156 shares during the period. Avidian Wealth Enterprises LLC boosted its position in Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC increased its stake in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares during the last quarter. Lake Street Advisors Group LLC raised its position in shares of Corteva by 3.7% in the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after buying an additional 160 shares during the period. Finally, Roble Belko & Company Inc lifted its holdings in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Down 0.3 %

Shares of NYSE CTVA opened at $61.91 on Wednesday. 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, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock has a market capitalization of $42.44 billion, a P/E ratio of 47.99, a PEG ratio of 1.68 and a beta of 0.79. The stock’s fifty day moving average is $62.50 and its 200 day moving average is $59.99.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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%. Sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s payout ratio is currently 52.71%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTVA shares. Citigroup upped their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Oppenheimer lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.00.

Insider Activity at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on 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 completion of the sale, the insider now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by insiders.

About Corteva

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.