Corteva, Inc. (NYSE:CTVA) Stake Trimmed by Thompson Investment Management Inc.

Thompson Investment Management Inc. cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 18.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,152 shares of the company’s stock after selling 264 shares during the quarter. Thompson Investment Management Inc.’s holdings in Corteva were worth $66,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Chicago Partners Investment Group LLC boosted its stake in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after purchasing an additional 156 shares during the period. Roble Belko & Company Inc raised its position in Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after buying an additional 166 shares during the period. Rovin Capital UT ADV lifted its stake in Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after acquiring an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the period. Finally, Proffitt & Goodson Inc. grew its stake in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after acquiring an additional 174 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Down 0.1 %

Shares of NYSE:CTVA opened at $62.32 on Monday. 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 stock’s 50-day moving average is $60.22 and its 200-day moving average is $58.22. The company has a market cap of $42.83 billion, a P/E ratio of 48.31, a P/E/G ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

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

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio is 52.71%.

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

Analyst Ratings Changes

CTVA has been the subject of several research reports. Oppenheimer raised their price target on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday. Royal Bank of Canada lifted their target price on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp lifted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Bank of America lifted their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.31.

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.