Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Sells 435 Shares of Corteva, Inc. (NYSE:CTVA)

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lessened its position in Corteva, Inc. (NYSE:CTVA) by 2.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,409 shares of the company’s stock after selling 435 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Corteva were worth $878,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the 4th quarter worth $32,000. Capital Advisors Ltd. LLC lifted its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the period. First Financial Corp IN bought a new stake in shares of Corteva during the 4th quarter valued at about $35,000. Finally, Albion Financial Group UT increased its position in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

Several analysts have commented on the stock. Citigroup raised their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday. Finally, Oppenheimer increased their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $67.31.

Corteva Stock Performance

Shares of CTVA opened at $62.32 on Monday. The company has a market cap of $42.83 billion, a price-to-earnings ratio of 48.31, a P/E/G ratio of 1.85 and a beta of 0.78. The business’s fifty day simple moving average is $60.22 and its two-hundred day simple moving average is $58.22. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last released its quarterly earnings data 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 7.19% and a net margin of 5.36%. Research analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Corteva announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are 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.