Commerzbank Aktiengesellschaft FI Acquires Shares of 4,580 Corteva, Inc. (NYSE:CTVA)

Commerzbank Aktiengesellschaft FI acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,580 shares of the company’s stock, valued at approximately $260,000.

A number of other hedge funds have also made changes to their positions in the stock. State Street Corp grew its position in shares of Corteva by 2.3% during the third 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 grew its position in shares of 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 in the last quarter. Franklin Resources Inc. grew its position in shares of 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 buying an additional 856,007 shares in the last quarter. Harris Associates L P grew its position 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 worth $844,360,000 after buying an additional 200,917 shares in the last quarter. Finally, FMR LLC grew 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 buying an additional 203,126 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Buying and Selling

In related 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 value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $61.17 on Thursday. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The company has a market cap of $41.94 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The firm has a fifty day moving average of $61.52 and a 200-day moving average of $59.44.

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

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

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on CTVA shares. Oppenheimer raised their price target 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. Citigroup raised their price target 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. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, KeyCorp lifted their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $67.79.

Corteva 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.