Metis Global Partners LLC Acquires 2,637 Shares of Corteva, Inc. (NYSE:CTVA)

Metis Global Partners LLC grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 65,687 shares of the company’s stock after buying an additional 2,637 shares during the quarter. Metis Global Partners LLC’s holdings in Corteva were worth $3,742,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTVA. Chicago Partners Investment Group LLC grew its stake in Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in Corteva by 3.6% in the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock worth $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC grew its stake in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock worth $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC grew its stake in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock worth $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc grew its stake in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on CTVA. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Bank of America upped their target price on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Barclays upped their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $67.79.

Insider Activity

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 directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $62.96 on Friday. The firm has a market capitalization of $43.16 billion, a price-to-earnings ratio of 48.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business has a fifty day moving average of $61.34 and a 200 day moving average of $59.28. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24.

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 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%. As a group, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management 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.