Gulf International Bank UK Ltd Sells 611 Shares of Corteva, Inc. (NYSE:CTVA)

Gulf International Bank UK Ltd trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 1.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,576 shares of the company’s stock after selling 611 shares during the period. Gulf International Bank UK Ltd’s holdings in Corteva were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of CTVA. KBC Group NV lifted its holdings in shares of Corteva by 267.3% in the third 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 in the last quarter. Oak Thistle LLC bought a new stake in Corteva during the 4th quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. lifted its stake in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Corteva by 5.9% in the 4th 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 position in shares of Corteva by 51.9% during the 4th 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 in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. UBS Group lowered their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Finally, Bank of America lifted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Price Performance

Shares of NYSE:CTVA opened at $62.82 on Friday. The company’s fifty day moving average is $61.23 and its 200 day moving average is $59.14. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock has a market cap of $43.07 billion, a PE ratio of 48.70, a PEG ratio of 1.68 and a beta of 0.78.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

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 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.14% of the company’s stock.

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.