apricus wealth LLC Sells 598 Shares of Corteva, Inc. (NYSE:CTVA)

apricus wealth LLC decreased its position in Corteva, Inc. (NYSE:CTVA) by 13.6% during the fourth quarter, HoldingsChannel.com reports. The fund owned 3,802 shares of the company’s stock after selling 598 shares during the quarter. apricus wealth LLC’s holdings in Corteva were worth $217,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corteva during the third quarter worth $99,869,000. Franklin Resources Inc. lifted its stake in 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 purchasing an additional 856,007 shares during the last quarter. KBC Group NV boosted its position in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the period. State Street Corp grew its stake in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after buying an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after acquiring an additional 596,073 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the subject of several research analyst reports. Royal Bank of Canada lifted their target price on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America upped their target price on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Citigroup decreased their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, KeyCorp dropped their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $65.59.

Corteva Stock Performance

Shares of Corteva stock opened at $63.96 on Friday. The firm has a market capitalization of $43.96 billion, a P/E ratio of 64.61, a P/E/G ratio of 1.63 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $45.01 and a 52 week high of $64.32. The firm’s 50 day moving average is $59.39 and its two-hundred day moving average is $57.35.

Corteva announced that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

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.