Cullen Frost Bankers Inc. Has $285,000 Holdings in Corteva, Inc. (NYSE:CTVA)

Cullen Frost Bankers Inc. cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 11.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,999 shares of the company’s stock after selling 656 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Corteva were worth $285,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. KBC Group NV increased its holdings 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 worth $65,851,000 after purchasing an additional 815,135 shares during the period. Oak Thistle LLC bought a new position in Corteva in the fourth quarter valued at approximately $1,514,000. Charles Schwab Investment Management Inc. increased its stake in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Van ECK Associates Corp increased its stake in Corteva by 5.9% in the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock valued at $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Finally, Swedbank AB increased its stake in Corteva by 51.9% in the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock valued at $39,624,000 after acquiring an additional 237,764 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by company insiders.

Corteva Price Performance

Shares of NYSE:CTVA opened at $60.62 on Friday. The firm has a market cap of $41.56 billion, a PE ratio of 46.99, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The firm’s fifty day moving average is $61.66 and its 200-day moving average is $59.53. 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 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 analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Sell-side analysts predict that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva announced that its board has authorized a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.12%. Corteva’s payout ratio is 52.71%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CTVA. Royal Bank of Canada lifted their price objective on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp lifted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Bank of America lifted their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group decreased their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.79.

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.