Skandinaviska Enskilda Banken AB publ Sells 4,260 Shares of Corteva, Inc. (NYSE:CTVA)

Skandinaviska Enskilda Banken AB publ reduced its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 3.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 139,163 shares of the company's stock after selling 4,260 shares during the period. Skandinaviska Enskilda Banken AB publ's holdings in Corteva were worth $7,871,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the stock an "outperform" rating in a research report on Friday, February 7th. Wells Fargo & Company lifted their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an "overweight" rating in a report on Tuesday, January 28th. The Goldman Sachs Group assumed coverage on Corteva in a report on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective for the company. Citigroup lifted their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Finally, Oppenheimer upped their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Corteva has an average rating of "Moderate Buy" and an average target price of $68.00.

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Corteva Stock Up 1.5 %

Shares of CTVA traded up $0.92 during mid-day trading on Wednesday, hitting $62.50. 3,743,186 shares of the company's stock were exchanged, compared to its average volume of 3,041,680. 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 52 week low of $50.01 and a 52 week high of $66.24. The company has a market cap of $42.85 billion, a PE ratio of 48.45, a P/E/G ratio of 1.68 and a beta of 0.79. The company has a 50-day simple moving average of $62.14 and a 200 day simple moving average of $59.77.

Corteva (NYSE:CTVA - Get Free Report) last released its 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 net margin of 5.36% and a return on equity of 7.19%. On average, research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva's dividend payout ratio is presently 52.71%.

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

Insider Activity at Corteva

In related news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the transaction, the insider now owns 11,347 shares in the company, valued at approximately $723,257.78. This represents a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.20% of the stock is currently owned by company insiders.

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.