Corteva, Inc. (NYSE:CTVA) Stake Lessened by Ruffer LLP

Ruffer LLP decreased its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 13.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 785,918 shares of the company's stock after selling 119,910 shares during the period. Corteva comprises approximately 1.6% of Ruffer LLP's portfolio, making the stock its 18th biggest holding. Ruffer LLP owned 0.11% of Corteva worth $44,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Noble Wealth Management PBC purchased a new stake in Corteva in the 4th quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new position in shares of Corteva in the fourth quarter worth $27,000. Golden State Wealth Management LLC purchased a new stake in shares of Corteva in the fourth quarter valued at $32,000. Centricity Wealth Management LLC acquired a new stake in shares of Corteva during the fourth quarter valued at $34,000. Finally, First Financial Corp IN purchased a new stake in Corteva during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Trading Down 0.8 %

CTVA traded down $0.49 during trading on Thursday, hitting $58.51. 3,303,964 shares of the company's stock were exchanged, compared to its average volume of 3,579,389. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The stock has a 50 day moving average price of $61.84 and a 200 day moving average price of $59.63. The firm has a market cap of $40.11 billion, a P/E ratio of 45.36, a price-to-earnings-growth ratio of 1.68 and a beta of 0.79. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

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Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results 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%. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's dividend payout ratio (DPR) is presently 52.71%.

Insiders Place Their Bets

In related 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on CTVA. Bank of America upped their target price on shares of Corteva from $69.00 to $73.00 and gave the company a "buy" rating in a report on Tuesday, February 11th. Oppenheimer lifted their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. UBS Group reduced their price target on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research note on Friday, January 10th. The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday. They issued a "buy" rating and a $71.00 price objective for the company. Finally, KeyCorp increased their target price on Corteva from $68.00 to $70.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $68.00.

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.