Corteva, Inc. (NYSE:CTVA) Shares Acquired by Crestwood Advisors Group LLC

Crestwood Advisors Group LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 39.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,823 shares of the company’s stock after acquiring an additional 1,934 shares during the period. Crestwood Advisors Group LLC’s holdings in Corteva were worth $389,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva in the 3rd quarter worth about $99,869,000. Franklin Resources Inc. boosted its stake in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the last quarter. KBC Group NV boosted its stake in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares during the last quarter. State Street Corp boosted its stake in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after buying an additional 596,073 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research analyst reports. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Citigroup raised their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. KeyCorp raised their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. One investment 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. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $62.96 on Wednesday. The company has a market cap of $43.16 billion, a P/E ratio of 48.80, a PEG ratio of 1.68 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The business’s 50-day simple moving average is $60.97 and its 200 day simple moving average is $59.09.

Corteva (NYSE:CTVA) last posted 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%. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders 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 yield of 1.08%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred 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 in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

Corteva 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.