Anchor Capital Advisors LLC Has $35.84 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Anchor Capital Advisors LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 228.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 629,215 shares of the company’s stock after buying an additional 437,821 shares during the quarter. Anchor Capital Advisors LLC owned about 0.09% of Corteva worth $35,840,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new position in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in Corteva during the fourth quarter worth $32,000. Centricity Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter valued at $34,000. First Financial Corp IN acquired a new position in shares of Corteva during the fourth quarter valued at about $35,000. Finally, Albion Financial Group UT increased its position in shares of 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 acquiring an additional 321 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on CTVA. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Oppenheimer lifted their target price on 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 price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, KeyCorp increased their target price on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Stock Performance

Shares of CTVA opened at $62.82 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The firm has a market cap of $43.07 billion, a PE ratio of 48.70, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock’s fifty day moving average price is $61.23 and its two-hundred day moving average price is $59.14.

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

Corteva Announces Dividend

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

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

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.14% of the company’s stock.

Corteva 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.