Corteva, Inc. (NYSE:CTVA) Stock Holdings Reduced by Kestra Private Wealth Services LLC

Kestra Private Wealth Services LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.1% during the fourth quarter, Holdings Channel reports. The firm owned 40,727 shares of the company’s stock after selling 1,760 shares during the period. Kestra Private Wealth Services LLC’s holdings in Corteva were worth $2,320,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. KBC Group NV grew its holdings in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Oak Thistle LLC acquired a new position in Corteva in the 4th quarter valued at $1,514,000. Charles Schwab Investment Management Inc. raised its holdings in Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares during the period. Swedbank AB lifted its position in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after acquiring an additional 237,764 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after acquiring an additional 488,181 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 1.3 %

NYSE:CTVA opened at $63.01 on Wednesday. The company has a market cap of $43.31 billion, a price-to-earnings ratio of 48.85, a P/E/G ratio of 1.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.45. The stock’s fifty day moving average price is $60.22 and its two-hundred day moving average price is $58.30. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. On average, analysts anticipate that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its board has initiated a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is 52.71%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent analyst reports. KeyCorp lifted their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. Oppenheimer lifted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Wells Fargo & Company increased their price objective on Corteva from $67.00 to $73.00 and gave the company 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 note on Friday, January 10th. Finally, Citigroup increased their price objective 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. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $67.56.

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.