Copeland Capital Management LLC Sells 1,019 Shares of Corteva, Inc. (NYSE:CTVA)

Copeland Capital Management LLC cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 24.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,108 shares of the company’s stock after selling 1,019 shares during the quarter. Copeland Capital Management LLC’s holdings in Corteva were worth $177,000 at the end of the most recent quarter.

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

Corteva Stock Down 1.3 %

CTVA stock opened at $65.26 on Monday. The stock has a market cap of $44.85 billion, a P/E ratio of 65.92, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $60.14 and its two-hundred day simple moving average is $57.91. Corteva, Inc. has a 1-year low of $45.46 and a 1-year high of $66.24.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.04%. Corteva’s payout ratio is currently 68.69%.

Corteva announced that its Board of Directors has approved a stock repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on CTVA shares. Citigroup increased their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.06.

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.