Gulf International Bank UK Ltd Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Gulf International Bank UK Ltd cut its stake in Corteva, Inc. (NYSE:CTVA) by 1.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 55,576 shares of the company’s stock after selling 611 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Corteva were worth $3,165,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CTVA. Hager Investment Management Services LLC purchased a new stake in Corteva in the fourth quarter worth about $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva in the 4th quarter worth approximately $32,000. Centricity Wealth Management LLC purchased a new position in shares of Corteva in the 4th quarter valued at approximately $34,000. First Financial Corp IN bought a new stake in shares of Corteva during the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT grew its stake in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $62.82 on Friday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 48.70, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The firm has a 50 day moving average of $61.23 and a 200 day moving average of $59.14.

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

Corteva Dividend Announcement

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

Corteva announced that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

CTVA has been the subject of a number of analyst reports. Oppenheimer raised their target price 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. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp upped their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Citigroup lifted their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Finally, Barclays upped their target price on shares of Corteva from $62.00 to $64.00 and gave the company 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 given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Insider Transactions at Corteva

In other news, insider Brian Titus sold 26,560 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

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.