Sentry Investment Management LLC Sells 432 Shares of Corteva, Inc. (NYSE:CTVA)

Sentry Investment Management LLC lessened its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 14.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,656 shares of the company’s stock after selling 432 shares during the quarter. Sentry Investment Management LLC’s holdings in Corteva were worth $151,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Hager Investment Management Services LLC purchased a new stake in Corteva during the fourth quarter valued at about $27,000. Golden State Wealth Management LLC purchased a new position in shares of Corteva in the fourth quarter worth about $32,000. Centricity Wealth Management LLC purchased a new position in Corteva in the 4th quarter worth approximately $34,000. First Financial Corp IN bought a new stake in Corteva in the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT boosted its stake in shares of Corteva by 112.6% during 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 during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently commented on CTVA. Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America increased their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. 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, February 7th. Finally, Wells Fargo & Company upped their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $67.73.

Corteva Trading Down 0.5 %

NYSE CTVA opened at $62.65 on Thursday. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock has a market cap of $42.95 billion, a P/E ratio of 48.57, a P/E/G ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock’s fifty day moving average price is $61.09 and its 200-day moving average price is $59.12.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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, equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued 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 of this dividend is Monday, March 3rd. Corteva’s payout ratio is presently 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.