Corteva, Inc. (NYSE:CTVA) Shares Sold by Choreo LLC

Choreo LLC reduced its holdings in Corteva, Inc. (NYSE:CTVA) by 6.3% during the 4th quarter, Holdings Channel reports. The firm owned 30,590 shares of the company’s stock after selling 2,048 shares during the quarter. Choreo LLC’s holdings in Corteva were worth $1,737,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of CTVA. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva in the third quarter valued at approximately $99,869,000. Franklin Resources Inc. boosted its stake in shares of 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 acquiring an additional 856,007 shares during the last quarter. KBC Group NV boosted its stake 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 acquiring an additional 815,135 shares during the last quarter. State Street Corp boosted its stake in shares of 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 acquiring an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after acquiring an additional 596,073 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE:CTVA opened at $62.32 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $42.83 billion, a P/E ratio of 62.95, a P/E/G ratio of 1.71 and a beta of 0.78. The stock’s fifty day moving average is $60.22 and its two-hundred day moving average is $58.14.

Corteva (NYSE:CTVA) last posted its earnings results 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 4.18% and a return on equity of 6.63%. Equities analysts expect that Corteva, Inc. will post 2.58 EPS for the current year.

Corteva Announces Dividend

The company 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. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its board has initiated a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CTVA. Royal Bank of Canada lifted their price target on Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Bank of America lifted their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Wells Fargo & Company boosted their price objective on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus price target of $67.31.

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.