Sanctuary Advisors LLC Sells 5,516 Shares of Corteva, Inc. (NYSE:CTVA)

Sanctuary Advisors LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 5.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 102,197 shares of the company's stock after selling 5,516 shares during the quarter. Sanctuary Advisors LLC's holdings in Corteva were worth $5,821,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CTVA. KBC Group NV boosted its position in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company's stock valued at $65,851,000 after acquiring an additional 815,135 shares during the last quarter. Oak Thistle LLC bought a new stake in Corteva during the fourth quarter valued at $1,514,000. Charles Schwab Investment Management Inc. boosted its position in Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company's stock valued at $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Van ECK Associates Corp boosted its position in Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company's stock valued at $537,031,000 after acquiring an additional 525,531 shares during the last quarter. Finally, Swedbank AB boosted its position in Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company's stock valued at $39,624,000 after acquiring an additional 237,764 shares during the last quarter. Institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on CTVA shares. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Oppenheimer increased their price objective on shares of Corteva from $70.00 to $72.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. BNP Paribas raised shares of Corteva to a "hold" rating in a research report on Monday, February 10th. 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 report on Friday, February 7th. Finally, UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. One 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 company's stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.73.

Corteva Stock Down 1.7 %

NYSE:CTVA traded down $1.08 on Friday, hitting $62.75. The stock had a trading volume of 2,476,698 shares, compared to its average volume of 3,578,375. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45. The stock has a market cap of $43.02 billion, a P/E ratio of 48.64, a price-to-earnings-growth ratio of 1.67 and a beta of 0.78. Corteva, Inc. has a 1 year low of $50.01 and a 1 year high of $66.24. The firm's fifty day simple moving average is $60.74 and its two-hundred day simple moving average is $58.74.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.08%. Corteva's dividend payout ratio (DPR) is 52.71%.

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