Corteva, Inc. (NYSE:CTVA) Shares Purchased by Apollon Wealth Management LLC

Apollon Wealth Management LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 10.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,891 shares of the company’s stock after acquiring an additional 678 shares during the quarter. Apollon Wealth Management LLC’s holdings in Corteva were worth $392,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hager Investment Management Services LLC acquired a new position in Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC purchased a new stake in Corteva during the fourth quarter worth about $32,000. Capital Advisors Ltd. LLC boosted its holdings 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 in the last quarter. First Financial Corp IN purchased a new stake in Corteva during the fourth quarter worth about $35,000. Finally, Albion Financial Group UT lifted its holdings in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Bank of America upped their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Barclays upped their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup boosted their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $67.73.

Corteva Price Performance

Shares of CTVA opened at $62.90 on Friday. The firm has a market cap of $43.23 billion, a PE ratio of 48.76, a PEG ratio of 1.85 and a beta of 0.78. The firm’s 50 day moving average price is $60.26 and its 200 day moving average price is $58.38. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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%. As a group, research analysts expect that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Corteva Company Profile

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.