Charles Schwab Investment Management Inc. Grows Stock Position in Corteva, Inc. (NYSE:CTVA)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 3.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,691,738 shares of the company's stock after acquiring an additional 167,742 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.68% of Corteva worth $267,241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Noble Wealth Management PBC purchased a new stake in Corteva during the 4th quarter worth approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva during the fourth quarter worth $27,000. Golden State Wealth Management LLC acquired a new position in shares of Corteva in the 4th quarter valued at $32,000. Centricity Wealth Management LLC purchased a new position in Corteva in the 4th quarter worth $34,000. Finally, First Financial Corp IN acquired a new stake in Corteva during the 4th quarter worth about $35,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a report on Friday, January 10th. BNP Paribas upgraded shares of Corteva to a "hold" rating in a report on Monday, February 10th. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research note on Tuesday, January 21st. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, Bank of America boosted their target price on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a research report on Tuesday, February 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.79.

Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company's stock, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.14% of the stock is owned by company insiders.

Corteva Trading Up 2.3 %

Shares of CTVA stock opened at $61.17 on Thursday. The stock has a 50 day simple moving average of $61.52 and a 200-day simple moving average of $59.44. Corteva, Inc. has a 1-year low of $50.01 and a 1-year high of $66.24. The company has a market cap of $41.94 billion, a price-to-earnings ratio of 47.42, a PEG ratio of 1.68 and a beta of 0.79. 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 posted 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%. On average, equities research analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

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 issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.11%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is 52.71%.

Corteva declared that its board has authorized a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.

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