KBC Group NV Acquires 1,473 Shares of Corteva, Inc. (NYSE:CTVA)

KBC Group NV grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,121,577 shares of the company’s stock after buying an additional 1,473 shares during the period. KBC Group NV’s holdings in Corteva were worth $63,885,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CTVA. State Street Corp lifted its holdings in shares of Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares in the last quarter. Harris Associates L P grew its holdings in shares of Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares during the last quarter. Finally, FMR LLC increased its position in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after acquiring an additional 203,126 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Citigroup lowered their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada increased their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Bank of America lifted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $65.59.

Corteva Price Performance

NYSE CTVA opened at $63.96 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The business’s fifty day moving average is $59.56 and its 200 day moving average is $57.48. The company has a market capitalization of $43.96 billion, a PE ratio of 64.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $64.32.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

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

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.