Kestra Investment Management LLC Invests $50,000 in Corteva, Inc. (NYSE:CTVA)

Kestra Investment Management LLC acquired a new position in shares of Corteva, Inc. (NYSE:CTVA) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 884 shares of the company’s stock, valued at approximately $50,000.

Other large investors also recently modified their holdings of the company. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva in the 3rd quarter valued at $99,869,000. Franklin Resources Inc. grew 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 during the period. KBC Group NV grew its position in 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 purchasing an additional 815,135 shares during the period. State Street Corp grew its position in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the period. Finally, BNP Paribas Financial Markets grew its position in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after purchasing an additional 596,073 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on CTVA. BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Bank of America lifted their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Finally, Oppenheimer lifted their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $67.73.

Corteva Trading Down 1.7 %

NYSE CTVA opened at $62.75 on Friday. The stock has a market capitalization of $43.02 billion, a price-to-earnings ratio of 48.64, a PEG ratio of 1.67 and a beta of 0.78. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The business’s fifty day moving average is $60.81 and its 200-day moving average is $58.82.

Corteva (NYSE:CTVA) last announced 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%. Equities research analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

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

Corteva Dividend Announcement

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