Skandinaviska Enskilda Banken AB publ Sells 4,260 Shares of Corteva, Inc. (NYSE:CTVA)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 139,163 shares of the company’s stock after selling 4,260 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Corteva were worth $7,871,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Chicago Partners Investment Group LLC lifted its holdings in shares of Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC lifted its holdings in shares of Corteva by 3.6% during the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after purchasing an additional 157 shares in the last quarter. Beacon Capital Management LLC lifted its holdings in shares of Corteva by 13.4% during the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after purchasing an additional 158 shares in the last quarter. Lake Street Advisors Group LLC lifted its holdings in shares of Corteva by 3.7% during the 4th quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company’s stock valued at $257,000 after purchasing an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc lifted its holdings in shares of Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CTVA shares. Barclays lifted their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. UBS Group dropped their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada lifted their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday. They issued a “buy” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $68.00.

Corteva Stock Performance

NYSE:CTVA opened at $59.90 on Friday. 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 fifty-two week low of $50.01 and a fifty-two week high of $66.24. 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. The stock has a fifty day moving average price of $61.96 and a 200-day moving average price of $59.69.

Corteva (NYSE:CTVA) last posted its quarterly 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%. As a group, equities analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

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 issued a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

Corteva announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Insider Transactions at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by insiders.

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.