Corteva, Inc. (NYSE:CTVA) Shares Bought by Leo Wealth LLC

Leo Wealth LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,969 shares of the company’s stock after purchasing an additional 454 shares during the period. Leo Wealth LLC’s holdings in Corteva were worth $454,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in CTVA. Hager Investment Management Services LLC acquired a new stake in Corteva during the fourth quarter worth about $27,000. Capital Advisors Ltd. LLC increased its position in shares of 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 purchased a new position in shares of Corteva in the 4th quarter valued at $35,000. Albion Financial Group UT lifted its holdings in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Finally, Brown Lisle Cummings Inc. raised its position in Corteva by 159.6% in the fourth quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company’s stock valued at $42,000 after purchasing an additional 450 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $62.32 on Friday. The company has a 50-day moving average of $60.22 and a two-hundred day moving average of $58.14. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 62.95, a PEG ratio of 1.71 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 6.63% and a net margin of 4.18%. On average, equities research analysts expect that Corteva, Inc. will post 2.58 earnings per share for the current year.

Corteva announced that its board has initiated a stock repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally a sign 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 paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on CTVA. Barclays boosted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday. Royal Bank of Canada increased their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, UBS Group decreased their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. 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. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $67.31.

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.