CIBC Asset Management Inc Has $6.29 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

CIBC Asset Management Inc grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 110,499 shares of the company’s stock after purchasing an additional 3,520 shares during the period. CIBC Asset Management Inc’s holdings in Corteva were worth $6,294,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hager Investment Management Services LLC bought a new stake in Corteva in the 4th quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at approximately $32,000. Capital Advisors Ltd. LLC increased its holdings 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 in the last quarter. First Financial Corp IN acquired a new position in Corteva during the fourth quarter worth $35,000. Finally, Albion Financial Group UT raised its holdings in shares of Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on CTVA. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. KeyCorp boosted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Finally, Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Price Performance

NYSE:CTVA opened at $63.65 on Thursday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The stock has a fifty day moving average of $60.65 and a 200 day moving average of $58.71. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a market capitalization of $43.75 billion, a price-to-earnings ratio of 49.34, a P/E/G ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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%. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. Corteva’s dividend payout ratio is presently 52.71%.

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.