Ipswich Investment Management Co. Inc. Has $265,000 Stake in Corteva, Inc. (NYSE:CTVA)

Ipswich Investment Management Co. Inc. decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 26.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,652 shares of the company’s stock after selling 1,682 shares during the period. Ipswich Investment Management Co. Inc.’s holdings in Corteva were worth $265,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. KBC Group NV grew its position in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares during the period. Oak Thistle LLC acquired a new stake in shares of Corteva during the 4th quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. grew its position in shares of Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after buying an additional 66,052 shares during the period. Van ECK Associates Corp grew its holdings in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares during the period. Finally, Swedbank AB grew its holdings in Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after purchasing an additional 237,764 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA stock opened at $62.75 on Friday. The company’s fifty day simple moving average is $60.81 and its 200-day simple moving average is $58.82. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The firm has a market cap of $43.02 billion, a PE ratio of 48.64, a P/E/G ratio of 1.67 and a beta of 0.78. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Analyst Ratings Changes

A number of brokerages recently issued reports on CTVA. Royal Bank of Canada boosted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp boosted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Finally, UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price 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.