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

Vontobel Holding Ltd. cut its position in Corteva, Inc. (NYSE:CTVA) by 3.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor 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.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KBC Group NV boosted its position in Corteva by 267.3% in 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 in the last quarter. Oak Thistle LLC acquired a new position in Corteva in the fourth quarter valued at about $1,514,000. Charles Schwab Investment Management Inc. lifted its position in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Swedbank AB lifted its position in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after purchasing an additional 237,764 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Corteva by 755.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after purchasing an additional 488,181 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 1.8 %

Shares of NYSE:CTVA opened at $64.00 on Friday. 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 capitalization of $43.99 billion, a PE ratio of 49.61, a PEG ratio of 1.85 and a beta of 0.78. The company has a 50 day moving average price of $60.39 and a two-hundred day moving average price of $58.47.

Corteva (NYSE:CTVA) last issued its 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 net margin of 5.36% and a return on equity of 7.19%. Analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva announced that its Board of Directors has initiated 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 buy up to 7.5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on CTVA shares. UBS Group reduced their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup upped their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.73.

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.