Corteva, Inc. (NYSE:CTVA) Shares Acquired by Naples Global Advisors LLC

Naples Global Advisors LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 0.4% in the fourth quarter, HoldingsChannel reports. The firm owned 91,098 shares of the company’s stock after buying an additional 356 shares during the quarter. Naples Global Advisors LLC’s holdings in Corteva were worth $5,189,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Corteva in the third quarter valued at $99,869,000. Franklin Resources Inc. raised its position in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares in the last quarter. KBC Group NV boosted its stake in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the period. State Street Corp grew its position in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Corteva by 176.0% during the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after buying an additional 596,073 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $62.02 on Thursday. The firm’s fifty day simple moving average is $60.24 and its 200-day simple moving average is $58.35. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market capitalization of $42.63 billion, a price-to-earnings ratio of 48.08, a PEG ratio of 1.85 and a beta of 0.78. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96.

Corteva (NYSE:CTVA) last posted its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. As a group, equities analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva announced that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.10%. Corteva’s payout ratio is 52.71%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. UBS Group decreased their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Bank of America increased their target price on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company raised 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, Barclays upped their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.73.

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.