Brandes Investment Partners LP Reduces Stock Position in Corteva, Inc. (NYSE:CTVA)

Brandes Investment Partners LP lowered its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.4% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 2,912,404 shares of the company's stock after selling 42,740 shares during the quarter. Corteva makes up about 1.9% of Brandes Investment Partners LP's investment portfolio, making the stock its 13th largest holding. Brandes Investment Partners LP owned approximately 0.42% of Corteva worth $165,891,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chicago Partners Investment Group LLC boosted its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company's stock valued at $759,000 after purchasing an additional 156 shares in the last quarter. Avidian Wealth Enterprises LLC increased its position in Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company's stock valued at $258,000 after acquiring an additional 157 shares during the last quarter. Beacon Capital Management LLC increased its position in Corteva by 13.4% in the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company's stock worth $76,000 after buying an additional 158 shares in the last quarter. Lake Street Advisors Group LLC increased its position in Corteva by 3.7% in the fourth quarter. Lake Street Advisors Group LLC now owns 4,514 shares of the company's stock worth $257,000 after buying an additional 160 shares in the last quarter. Finally, Roble Belko & Company Inc increased its position in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company's stock worth $180,000 after buying an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

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Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.20% of the company's stock.

Corteva Price Performance

NYSE CTVA traded up $0.92 during trading on Wednesday, hitting $62.50. 3,743,186 shares of the stock traded hands, compared to its average volume of 3,041,680. The company has a market capitalization of $42.85 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The firm has a 50-day simple moving average of $62.14 and a 200-day simple moving average of $59.77. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results 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 return on equity of 7.19% and a net margin of 5.36%. As a group, analysts predict that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its board has initiated a share buyback 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 leadership believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, March 3rd. Corteva's dividend payout ratio (DPR) is 52.71%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on CTVA. Wells Fargo & Company upped their price target on Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 28th. The Goldman Sachs Group began coverage on Corteva in a research report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price target for the company. Bank of America upped their price target on Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Finally, BNP Paribas raised Corteva to a "hold" rating in a research note on Monday, February 10th. One equities 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 data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $68.00.

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.