Vontobel Holding Ltd. Has $7.72 Million Position in Corteva, Inc. (NYSE:CTVA)

Vontobel Holding Ltd. lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 135,497 shares of the company’s stock after selling 4,410 shares during the period. Vontobel Holding Ltd.’s holdings in Corteva were worth $7,718,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Bogart Wealth LLC boosted its stake in shares of Corteva by 59.4% during the 4th quarter. Bogart Wealth LLC now owns 1,828 shares of the company’s stock valued at $104,000 after buying an additional 681 shares during the period. Avestar Capital LLC acquired a new stake in shares of Corteva in the 4th quarter valued at $220,000. MFG Wealth Management Inc. acquired a new stake in shares of Corteva in the 4th quarter valued at $986,000. Naples Global Advisors LLC lifted its stake in shares of Corteva by 0.4% in the 4th quarter. Naples Global Advisors LLC now owns 91,098 shares of the company’s stock valued at $5,189,000 after purchasing an additional 356 shares during the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Corteva by 5.9% in the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after purchasing an additional 525,531 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several analyst reports. Oppenheimer lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. UBS Group reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas raised shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Stock Performance

NYSE:CTVA opened at $64.00 on Friday. The firm’s 50-day moving average is $60.39 and its 200-day moving average is $58.47. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The company has a market cap of $43.99 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its earnings results 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%. Equities research analysts anticipate that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Corteva’s payout ratio is currently 52.71%.

Corteva announced that its board has authorized a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

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.