Corteva, Inc. (NYSE:CTVA) Shares Sold by Jacobi Capital Management LLC

Jacobi Capital Management LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 0.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 17,865 shares of the company’s stock after selling 166 shares during the period. Jacobi Capital Management LLC’s holdings in Corteva were worth $1,018,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Metis Global Partners LLC boosted its holdings in shares of Corteva by 4.2% in the 4th quarter. Metis Global Partners LLC now owns 65,687 shares of the company’s stock valued at $3,742,000 after buying an additional 2,637 shares during the period. Noble Wealth Management PBC acquired a new position in Corteva during the 4th quarter valued at about $26,000. SVB Wealth LLC acquired a new position in Corteva during the 4th quarter valued at about $1,183,000. Private Trust Co. NA boosted its stake in Corteva by 8.5% during the 4th quarter. Private Trust Co. NA now owns 5,015 shares of the company’s stock valued at $286,000 after purchasing an additional 392 shares during the period. Finally, Argyle Capital Management LLC boosted its stake in Corteva by 2.1% during the 4th quarter. Argyle Capital Management LLC now owns 26,374 shares of the company’s stock valued at $1,502,000 after purchasing an additional 542 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup boosted their target price on shares of 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 boosted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Barclays boosted their price target 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. Finally, BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

Corteva Stock Up 0.2 %

NYSE CTVA opened at $62.96 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company’s 50 day simple moving average is $61.34 and its 200 day simple moving average is $59.28. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The company has a market capitalization of $43.16 billion, a P/E ratio of 48.81, a PEG ratio of 1.68 and a beta of 0.78.

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

Corteva Dividend Announcement

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

Corteva declared that its board has authorized a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction that occurred 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 transaction, the insider now directly 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 SEC, which is available at this link. 0.14% of the stock is currently owned by insiders.

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.