Yousif Capital Management LLC Has $5.36 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Yousif Capital Management LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 94,038 shares of the company’s stock after selling 2,987 shares during the period. Yousif Capital Management LLC’s holdings in Corteva were worth $5,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Chicago Partners Investment Group LLC grew its position in shares of Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares during the period. Roble Belko & Company Inc lifted its stake in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. Rovin Capital UT ADV grew 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 worth $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC increased its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the last quarter. Finally, Proffitt & Goodson Inc. raised its stake in Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after buying an additional 174 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Trading Down 2.3 %

CTVA opened at $62.33 on Friday. The stock has a market capitalization of $42.84 billion, a price-to-earnings ratio of 62.96, a P/E/G ratio of 1.71 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.50 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 simple moving average of $60.22 and a 200 day simple moving average of $58.11.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 6.63% and a net margin of 4.18%. Analysts predict that Corteva, Inc. will post 2.58 EPS for the current fiscal year.

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

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s payout ratio is 52.71%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Barclays increased 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. Royal Bank of Canada raised their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Wells Fargo & Company boosted their price objective 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, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

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.