Naples Global Advisors LLC Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Naples Global Advisors LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,098 shares of the company’s stock after purchasing an additional 356 shares during the period. Naples Global Advisors LLC’s holdings in Corteva were worth $5,189,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC increased its position in shares of Corteva by 1.2% in the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after buying an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC grew its stake in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares during the period. Roble Belko & Company Inc increased its holdings in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares in the last quarter. Rovin Capital UT ADV lifted its holdings in Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares in the last quarter. Finally, Capital Advisors Ltd. LLC lifted its holdings in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CTVA. Oppenheimer upped 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. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. KeyCorp lifted their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Price Performance

NYSE:CTVA opened at $62.02 on Thursday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock’s fifty day moving average is $60.24 and its two-hundred day moving average is $58.35. The company has a market capitalization of $42.63 billion, a P/E ratio of 48.08, a P/E/G ratio of 1.85 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. Equities analysts expect that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.