Hardman Johnston Global Advisors LLC Has $47.36 Million Stake in Corteva, Inc. (NYSE:CTVA)

Hardman Johnston Global Advisors LLC increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 20.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 831,529 shares of the company’s stock after purchasing an additional 141,955 shares during the period. Corteva makes up about 2.0% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 15th biggest holding. Hardman Johnston Global Advisors LLC owned approximately 0.12% of Corteva worth $47,364,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corteva during the third quarter worth approximately $99,869,000. Franklin Resources Inc. grew its position in Corteva by 6.1% during 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 in the last quarter. KBC Group NV raised its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares in the last quarter. State Street Corp lifted its position in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets grew its holdings in shares of Corteva by 176.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CTVA. Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Oppenheimer lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. KeyCorp upped their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Finally, Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Price Performance

Shares of NYSE:CTVA opened at $62.75 on Monday. 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. The firm has a market cap of $43.02 billion, a PE ratio of 48.64, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The firm’s fifty day moving average is $60.81 and its 200-day moving average is $58.93.

Corteva (NYSE:CTVA) last announced its 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 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 of Directors has approved a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

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

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.