Corteva, Inc. (NYSE:CTVA) Shares Sold by Stephens Inc. AR

Stephens Inc. AR trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,690 shares of the company’s stock after selling 572 shares during the quarter. Stephens Inc. AR’s holdings in Corteva were worth $609,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of CTVA. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Corteva in the 3rd quarter valued at $99,869,000. Franklin Resources Inc. increased its holdings in shares of Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the period. KBC Group NV increased its holdings in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares during the period. State Street Corp increased 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 valued at $2,015,914,000 after acquiring an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets increased its holdings in shares of Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after acquiring an additional 596,073 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock opened at $64.00 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $60.30 and its 200 day simple moving average is $58.41. The firm has a market capitalization of $43.99 billion, a PE ratio of 49.61, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its 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, equities research analysts predict that Corteva, Inc. will post 2.83 EPS for the current fiscal year.

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

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. 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 research note on Friday, January 10th. Bank of America boosted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday. Wells Fargo & Company boosted their price objective 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. KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, 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 note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $67.73.

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.