Callan Family Office LLC Makes New $669,000 Investment in Corteva, Inc. (NYSE:CTVA)

Callan Family Office LLC purchased a new position in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 11,737 shares of the company’s stock, valued at approximately $669,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CTVA. Raymond James Financial Inc. purchased a new position in shares of Corteva during the 4th quarter valued at approximately $161,052,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corteva during the 3rd quarter valued at approximately $99,869,000. Franklin Resources Inc. boosted its stake in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after buying an additional 856,007 shares during the last quarter. KBC Group NV boosted its stake 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 valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Finally, State Street Corp boosted its stake in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was 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 approximately $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 can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several research analyst reports. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp increased their target price on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Royal Bank of Canada upped their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Barclays upped 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. Finally, Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $67.79.

Corteva Price Performance

Shares of NYSE CTVA opened at $60.62 on Friday. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s fifty day moving average price is $61.66 and its two-hundred day moving average price is $59.53. The firm has a market capitalization of $41.56 billion, a PE ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, research analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its Board of Directors has authorized a stock buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s payout ratio is 52.71%.

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.