GAM Holding AG Has $789,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

GAM Holding AG lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 11.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,845 shares of the company’s stock after selling 1,867 shares during the quarter. GAM Holding AG’s holdings in Corteva were worth $789,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Chicago Partners Investment Group LLC increased its position in Corteva by 1.2% in the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after acquiring an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Corteva by 3.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after acquiring an additional 157 shares in the last quarter. Beacon Capital Management LLC increased its position in Corteva by 13.4% in the 4th quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after acquiring an additional 158 shares in the last quarter. Roble Belko & Company Inc increased its position in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after acquiring an additional 166 shares in the last quarter. Finally, Rovin Capital UT ADV increased its position in Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CTVA. Citigroup raised their price objective 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. 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 report on Friday, February 7th. UBS Group dropped their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada boosted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, 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 note on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $67.73.

Corteva Stock Up 0.9 %

Corteva stock opened at $64.51 on Wednesday. The stock has a market capitalization of $44.33 billion, a PE ratio of 50.01, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company has a 50 day moving average of $60.58 and a 200-day moving average of $58.67.

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

Corteva declared that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

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.