Asset Management One Co. Ltd. Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Asset Management One Co. Ltd. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 264,269 shares of the company's stock after selling 6,059 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Corteva were worth $15,126,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in CTVA. Hager Investment Management Services LLC bought a new stake in shares of Corteva in the 4th quarter worth $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter worth $32,000. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN bought a new stake in shares of Corteva in the fourth quarter worth $35,000. Finally, Albion Financial Group UT grew its holdings in shares of 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 acquiring an additional 321 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Trading Down 1.3 %

Shares of CTVA traded down $0.81 during mid-day trading on Wednesday, reaching $63.65. 2,379,875 shares of the company's stock traded hands, compared to its average volume of 3,651,365. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $43.75 billion, a P/E ratio of 49.34, a P/E/G ratio of 1.68 and a beta of 0.78. The stock's 50-day moving average is $60.58 and its two-hundred day moving average is $58.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. Research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management 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. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.07%. Corteva's dividend payout ratio (DPR) is currently 52.71%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CTVA. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a report on Friday, January 10th. Bank of America lifted their target price on Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Finally, Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.73.

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.