Nikko Asset Management Americas Inc. Sells 137,676 Shares of Corteva, Inc. (NYSE:CTVA)

Nikko Asset Management Americas Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 23.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 457,513 shares of the company’s stock after selling 137,676 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.07% of Corteva worth $26,060,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of CTVA. William Blair Investment Management LLC lifted its position in Corteva by 25.8% during the fourth quarter. William Blair Investment Management LLC now owns 38,726 shares of the company’s stock valued at $2,206,000 after purchasing an additional 7,946 shares during the last quarter. Flagship Wealth Advisors LLC bought a new stake in Corteva during the fourth quarter valued at approximately $25,000. Signaturefd LLC lifted its position in Corteva by 2.5% during the fourth quarter. Signaturefd LLC now owns 9,181 shares of the company’s stock valued at $523,000 after purchasing an additional 226 shares during the last quarter. Parallel Advisors LLC lifted its position in Corteva by 2.9% during the fourth quarter. Parallel Advisors LLC now owns 33,712 shares of the company’s stock valued at $1,920,000 after purchasing an additional 943 shares during the last quarter. Finally, Cibc World Markets Corp lifted its position in Corteva by 46.6% during the fourth quarter. Cibc World Markets Corp now owns 372,634 shares of the company’s stock valued at $21,225,000 after purchasing an additional 118,399 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTVA shares. Barclays lifted their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Citigroup lifted their target price on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. UBS Group decreased their price target 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. Finally, KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $68.00.

Corteva Stock Up 2.2 %

Shares of NYSE CTVA opened at $59.90 on Monday. The company has a quick ratio of 0.93, 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. The firm’s fifty day moving average is $61.96 and its 200 day moving average is $59.71. The company has a market cap of $41.06 billion, a price-to-earnings ratio of 46.43, a PEG ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) 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, equities research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 52.71%.

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

Insider Buying and Selling at Corteva

In other Corteva 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 transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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.