Corteva, Inc. (NYSE:CTVA) Shares Sold by Thompson Investment Management Inc.

Thompson Investment Management Inc. cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 18.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,152 shares of the company’s stock after selling 264 shares during the period. Thompson Investment Management Inc.’s holdings in Corteva were worth $66,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Farmers & Merchants Investments Inc. grew its stake in Corteva by 6.1% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 3,701 shares of the company’s stock valued at $211,000 after purchasing an additional 213 shares in the last quarter. Apollon Wealth Management LLC grew its position in shares of Corteva by 10.9% during the fourth quarter. Apollon Wealth Management LLC now owns 6,891 shares of the company’s stock worth $392,000 after buying an additional 678 shares in the last quarter. Cidel Asset Management Inc. increased its stake in shares of Corteva by 5.7% in the fourth quarter. Cidel Asset Management Inc. now owns 3,756 shares of the company’s stock worth $214,000 after buying an additional 204 shares during the last quarter. Golden State Wealth Management LLC acquired a new stake in Corteva in the fourth quarter valued at $32,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Corteva by 1.6% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 75,555 shares of the company’s stock valued at $4,304,000 after acquiring an additional 1,165 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research analyst reports. KeyCorp boosted their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday. Royal Bank of Canada upped their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday. Citigroup lifted their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Wells Fargo & Company boosted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Finally, Oppenheimer lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.31.

Corteva Stock Performance

Shares of NYSE CTVA opened at $62.32 on Monday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The company has a current ratio of 1.45, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.83 billion, a PE ratio of 48.31, a P/E/G ratio of 1.85 and a beta of 0.78. The stock has a 50 day simple moving average of $60.22 and a 200-day simple moving average of $58.22.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. On average, equities research analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its Board of Directors has initiated a share repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Corteva Announces Dividend

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 paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio is presently 52.71%.

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.