Keene & Associates Inc. Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Keene & Associates Inc. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,586 shares of the company’s stock after buying an additional 195 shares during the period. Keene & Associates Inc.’s holdings in Corteva were worth $888,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Hager Investment Management Services LLC acquired a new stake in Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC raised its stake in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares in the last quarter. First Financial Corp IN acquired a new stake in Corteva in the fourth quarter valued at $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 worth $35,000 after purchasing an additional 321 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. 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 company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Trading Up 0.9 %

NYSE:CTVA opened at $64.51 on Wednesday. The business’s 50-day moving average is $60.58 and its two-hundred day moving average is $58.67. 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 firm has a market capitalization of $44.33 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

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

Corteva Announces Dividend

The firm also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its stock is 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.