Sequoia Financial Advisors LLC Lowers Holdings in Corteva, Inc. (NYSE:CTVA)

Sequoia Financial Advisors LLC lessened its stake in Corteva, Inc. (NYSE:CTVA) by 31.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,635 shares of the company’s stock after selling 7,047 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Corteva were worth $891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of CTVA. Los Angeles Capital Management LLC bought a new stake in Corteva in the 3rd quarter worth about $205,000. Apollon Wealth Management LLC increased its holdings in Corteva by 16.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,213 shares of the company’s stock worth $365,000 after buying an additional 878 shares in the last quarter. Aptus Capital Advisors LLC increased its holdings in Corteva by 7.2% in the 3rd quarter. Aptus Capital Advisors LLC now owns 4,503 shares of the company’s stock worth $265,000 after buying an additional 303 shares in the last quarter. CIBC Asset Management Inc increased its holdings in Corteva by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 106,979 shares of the company’s stock worth $6,289,000 after buying an additional 8,912 shares in the last quarter. Finally, Sawgrass Asset Management LLC increased its holdings in Corteva by 6.6% in the 3rd quarter. Sawgrass Asset Management LLC now owns 10,793 shares of the company’s stock worth $635,000 after buying an additional 664 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. KeyCorp boosted their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.14% of the company’s stock.

Corteva Stock Up 2.2 %

NYSE CTVA opened at $59.90 on Monday. The stock’s 50 day moving average is $61.96 and its 200 day moving average is $59.71. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $41.06 billion, a PE ratio of 46.43, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 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%. Research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 1.14%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva announced that its Board of Directors has initiated a stock buyback 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 shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.