Hosking Partners LLP Reduces Stake in Corteva, Inc. (NYSE:CTVA)

Hosking Partners LLP reduced its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 43.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 92,667 shares of the company's stock after selling 70,581 shares during the period. Hosking Partners LLP's holdings in Corteva were worth $5,278,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter valued at about $27,000. Golden State Wealth Management LLC bought a new stake in shares of Corteva in the 4th quarter worth approximately $32,000. Centricity Wealth Management LLC purchased a new position in shares of Corteva during the fourth quarter valued at approximately $34,000. First Financial Corp IN bought a new position in shares of Corteva during the fourth quarter valued at approximately $35,000. Finally, Albion Financial Group UT lifted its stake in 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. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on CTVA. Royal Bank of Canada upped their price objective on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Bank of America increased their price target on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. KeyCorp lifted their price objective on Corteva from $68.00 to $70.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Barclays lifted their price target on Corteva from $62.00 to $64.00 and gave the company an "equal weight" rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $67.79.

Insider Activity at Corteva

In other Corteva news, insider Brian Titus sold 26,560 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the transaction, the insider now owns 11,347 shares of the company's stock, valued at approximately $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Stock Down 1.1 %

Corteva stock traded down $0.64 during mid-day trading on Tuesday, reaching $59.77. The stock had a trading volume of 3,786,120 shares, compared to its average volume of 3,517,005. The company has a market capitalization of $40.97 billion, a price-to-earnings ratio of 46.33, 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, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a 50-day moving average price of $61.40 and a two-hundred day moving average price of $59.38.

Corteva (NYSE:CTVA - Get Free Report) last posted its quarterly 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 net margin of 5.36% and a return on equity of 7.19%. On average, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's payout ratio is currently 52.71%.

Corteva declared that its Board of Directors has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's leadership believes its shares are undervalued.

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.