Corteva, Inc. (NYSE:CTVA) Shares Sold by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,727 shares of the company’s stock after selling 1,760 shares during the quarter. Kestra Private Wealth Services LLC’s holdings in Corteva were worth $2,320,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV grew 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 buying an additional 815,135 shares during the last quarter. Oak Thistle LLC acquired a new stake in shares of Corteva during the 4th quarter valued at approximately $1,514,000. Charles Schwab Investment Management Inc. boosted its position in 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 boosted its position in shares of Corteva by 51.9% in the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after buying an additional 237,764 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its position in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after purchasing an additional 488,181 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

NYSE:CTVA opened at $63.01 on Wednesday. The business’s 50-day moving average price is $60.22 and its 200 day moving average price is $58.30. The firm has a market cap of $43.31 billion, a P/E ratio of 48.85, a PEG ratio of 1.85 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. As a group, sell-side analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva announced that its board has initiated a share repurchase program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CTVA shares. KeyCorp boosted their target price 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. Oppenheimer lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Royal Bank of Canada raised their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a report on Friday, February 7th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $67.56.

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.