Barings LLC Has $6.22 Million Position in Corteva, Inc. (NYSE:CTVA)

Barings LLC reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 18.8% in the 4th quarter, HoldingsChannel.com reports. The firm owned 109,123 shares of the company’s stock after selling 25,241 shares during the quarter. Barings LLC’s holdings in Corteva were worth $6,216,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its holdings in Corteva by 26.5% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,210 shares of the company’s stock valued at $248,000 after acquiring an additional 881 shares in the last quarter. Equitable Trust Co. raised its holdings in Corteva by 96.6% in the 3rd quarter. Equitable Trust Co. now owns 9,812 shares of the company’s stock valued at $577,000 after acquiring an additional 4,822 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in Corteva in the 3rd quarter valued at $273,000. SpiderRock Advisors LLC raised its holdings in Corteva by 1.9% in the 3rd quarter. SpiderRock Advisors LLC now owns 37,146 shares of the company’s stock valued at $2,184,000 after acquiring an additional 687 shares in the last quarter. Finally, Rovin Capital UT ADV raised its holdings 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. 81.54% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling 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 sale, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on CTVA. KeyCorp lifted their price objective 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 target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company lifted their price target on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research note on Tuesday, January 28th. Finally, Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $67.79.

Corteva Trading Down 0.4 %

Shares of CTVA stock opened at $60.62 on Friday. The firm has a market capitalization of $41.56 billion, a P/E ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79. 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 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock’s fifty day simple moving average is $61.66 and its 200 day simple moving average is $59.53.

Corteva (NYSE:CTVA) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share 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, sell-side analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its board has approved a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

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. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Corteva 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.