Empowered Funds LLC Sells 20,585 Shares of Corteva, Inc. (NYSE:CTVA)

Empowered Funds LLC decreased its stake in Corteva, Inc. (NYSE:CTVA) by 39.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,240 shares of the company’s stock after selling 20,585 shares during the period. Empowered Funds LLC’s holdings in Corteva were worth $1,836,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Hager Investment Management Services LLC bought a new position in shares of Corteva during the fourth quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva during the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC raised its stake in shares of Corteva by 44.4% during 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 during the last quarter. First Financial Corp IN bought a new position in shares of Corteva during the fourth quarter valued at $35,000. Finally, Albion Financial Group UT raised its stake in 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 buying an additional 321 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.8 %

CTVA opened at $64.00 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The company’s 50-day moving average is $60.39 and its 200 day moving average is $58.47. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The firm has a market capitalization of $43.99 billion, a P/E ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released 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 net margin of 5.36% and a return on equity of 7.19%. Research analysts expect that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Corteva announced that its board has authorized a share buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s management believes its stock is undervalued.

Analyst Ratings Changes

CTVA has been the subject of a number of analyst reports. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. KeyCorp raised their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Barclays raised their price target 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. Finally, UBS Group reduced their price target 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. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

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.