Corteva, Inc. (NYSE:CTVA) Shares Sold by BOK Financial Private Wealth Inc.

BOK Financial Private Wealth Inc. cut its position in Corteva, Inc. (NYSE:CTVA) by 8.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,759 shares of the company’s stock after selling 535 shares during the period. BOK Financial Private Wealth Inc.’s holdings in Corteva were worth $328,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CTVA. Raymond James Financial Inc. purchased a new stake in shares of Corteva in the fourth quarter worth about $161,052,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva in the third quarter worth about $99,869,000. Franklin Resources Inc. boosted its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the last quarter. KBC Group NV boosted its stake in shares of Corteva by 267.3% in 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. Finally, State Street Corp boosted its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Price Performance

NYSE:CTVA opened at $60.62 on Monday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $41.56 billion, a PE ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79. The stock has a 50 day moving average price of $61.66 and a 200 day moving average price of $59.57.

Corteva (NYSE:CTVA) last posted 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 net margin of 5.36% and a return on equity of 7.19%. Equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

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 issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s dividend payout ratio is presently 52.71%.

Corteva announced that its board has initiated a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on CTVA. Bank of America increased their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. KeyCorp increased their price target on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.79.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.14% of the company’s stock.

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.