Ferguson Wellman Capital Management Inc. Sells 259 Shares of Corteva, Inc. (NYSE:CTVA)

Ferguson Wellman Capital Management Inc. lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 18,060 shares of the company’s stock after selling 259 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Corteva were worth $1,029,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in Corteva in the 4th quarter worth $32,000. Capital Advisors Ltd. LLC grew its holdings in 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 acquiring an additional 174 shares during the last quarter. First Financial Corp IN bought a new stake in Corteva in the 4th quarter worth $35,000. Finally, Albion Financial Group UT grew its holdings in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.2 %

Shares of Corteva stock opened at $62.20 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The stock has a market capitalization of $42.75 billion, a PE ratio of 48.22, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a 50-day simple moving average of $60.22 and a two-hundred day simple moving average of $58.25.

Corteva (NYSE:CTVA) last issued 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%. On average, analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its Board of Directors has initiated a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. UBS Group dropped their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Barclays raised 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. Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, KeyCorp raised their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.31.

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.