Ruffer LLP Sells 119,910 Shares of Corteva, Inc. (NYSE:CTVA)

Ruffer LLP decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 13.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,918 shares of the company’s stock after selling 119,910 shares during the quarter. Corteva comprises 1.6% of Ruffer LLP’s holdings, making the stock its 18th biggest position. Ruffer LLP owned approximately 0.11% of Corteva worth $44,765,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Noble Wealth Management PBC acquired a new position in shares of Corteva in the 4th quarter valued at about $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter valued at about $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $32,000. Centricity Wealth Management LLC purchased a new position in Corteva during the fourth quarter worth about $34,000. Finally, First Financial Corp IN acquired a new position in shares of Corteva in the 4th quarter valued at $35,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the company’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 completion of the transaction, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.4 %

CTVA stock opened at $60.62 on Friday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a market cap of $41.56 billion, a P/E ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company’s 50-day moving average price is $61.66 and its 200 day moving average price is $59.53.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing analysts’ consensus estimates of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 yield of 1.12%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 52.71%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer raised their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Citigroup increased their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research note on Monday, February 10th. Finally, Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $67.79.

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.