Callahan Advisors LLC Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Callahan Advisors LLC boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 0.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 145,542 shares of the company’s stock after buying an additional 283 shares during the quarter. Callahan Advisors LLC’s holdings in Corteva were worth $8,290,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of CTVA. State Street Corp grew 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 purchasing an additional 768,519 shares during the period. Geode Capital Management LLC grew its stake in shares of Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares during the period. Franklin Resources Inc. grew 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 purchasing an additional 856,007 shares during the period. Harris Associates L P grew its stake in shares of Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after purchasing an additional 200,917 shares during the period. Finally, FMR LLC grew its stake in shares of Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after purchasing an additional 203,126 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on CTVA. Bank of America boosted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Oppenheimer boosted their price objective on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Finally, KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. 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. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Corteva Trading Up 1.8 %

CTVA stock opened at $64.00 on Tuesday. 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 0.96. The company has a market capitalization of $43.99 billion, a price-to-earnings ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78. The business has a 50 day simple moving average of $60.48 and a two-hundred day simple moving average of $58.58.

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

Corteva Announces Dividend

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 issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is 52.71%.

Corteva announced that its Board of Directors has initiated a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.