Everpar Advisors LLC Has $665,000 Position in Corteva, Inc. (NYSE:CTVA)

by · The Markets Daily

Everpar Advisors LLC grew its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 5.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 11,683 shares of the company’s stock after purchasing an additional 570 shares during the period. Everpar Advisors LLC’s holdings in Corteva were worth $665,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the company. American Century Companies Inc. raised its holdings in shares of Corteva by 3.8% in the second quarter. American Century Companies Inc. now owns 117,070 shares of the company’s stock valued at $6,315,000 after buying an additional 4,255 shares during the last quarter. Federated Hermes Inc. grew its stake in shares of Corteva by 20.0% during the second quarter. Federated Hermes Inc. now owns 14,350 shares of the company’s stock valued at $774,000 after purchasing an additional 2,392 shares during the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of Corteva by 16.2% in the second quarter. Oppenheimer Asset Management Inc. now owns 28,135 shares of the company’s stock valued at $1,518,000 after purchasing an additional 3,923 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Corteva by 30.0% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 5,818 shares of the company’s stock worth $314,000 after purchasing an additional 1,341 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in Corteva during the 2nd quarter worth $319,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 1.1 %

CTVA stock opened at $61.62 on Friday. The stock has a fifty day moving average of $58.82 and a 200-day moving average of $56.96. Corteva, Inc. has a fifty-two week low of $44.01 and a fifty-two week high of $64.20. The company has a market capitalization of $42.35 billion, a price-to-earnings ratio of 62.24, a PEG ratio of 1.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. KeyCorp reduced their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average target price of $65.47.

Get Our Latest Report on CTVA

Corteva Profile

(Free Report)

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.

See Also

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