Corteva, Inc. (NYSE:CTVA) Shares Acquired by Farmers & Merchants Investments Inc.

Farmers & Merchants Investments Inc. boosted its stake in Corteva, Inc. (NYSE:CTVA) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,701 shares of the company’s stock after purchasing an additional 213 shares during the period. Farmers & Merchants Investments Inc.’s holdings in Corteva were worth $211,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CTVA. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new position in Corteva in the 4th quarter worth approximately $32,000. Capital Advisors Ltd. LLC grew its position 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 acquiring an additional 174 shares in the last quarter. First Financial Corp IN purchased a new stake in shares of Corteva during the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT lifted 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 owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on CTVA. Oppenheimer boosted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Bank of America boosted their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada boosted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday. Finally, Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $67.31.

Corteva Trading Down 0.1 %

Shares of NYSE:CTVA opened at $62.32 on Friday. The firm has a market cap of $42.83 billion, a P/E ratio of 48.31, a P/E/G ratio of 1.85 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a 50 day moving average of $60.22 and a 200-day moving average of $58.19.

Corteva (NYSE:CTVA) last released 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, analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva announced that its board has approved a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The business 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 1.09%. The ex-dividend date is Monday, March 3rd. 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.