Barings LLC Has $6.22 Million Position in Corteva, Inc. (NYSE:CTVA)

Barings LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 18.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 109,123 shares of the company’s stock after selling 25,241 shares during the period. Barings LLC’s holdings in Corteva were worth $6,216,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in Corteva in the fourth quarter worth $161,052,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva in the third quarter worth $99,869,000. Franklin Resources Inc. raised its holdings in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares during the period. KBC Group NV raised its holdings in 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 purchasing an additional 815,135 shares during the period. Finally, State Street Corp raised its holdings in Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Brian Titus sold 26,560 shares of Corteva 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 transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTVA. Wells Fargo & Company increased their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer increased 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. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, UBS Group lowered their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $67.79.

Corteva Stock Down 0.4 %

Corteva stock opened at $60.62 on Friday. The company has a market cap of $41.56 billion, a P/E ratio of 46.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a fifty day simple moving average of $61.66 and a 200 day simple moving average of $59.53. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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 net margin of 5.36% and a return on equity of 7.19%. Research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva declared that its Board of Directors has approved a share buyback plan 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 stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

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.