Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 12.8% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 459,254 shares of the company's stock after selling 67,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.07% of Corteva worth $26,159,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of research analyst reports. Oppenheimer upped their price target on Corteva from $70.00 to $72.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Royal Bank of Canada upped their target price on shares of Corteva from $72.00 to $73.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a "buy" rating for the company in a research note on Friday, January 10th. Bank of America increased their price objective 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. Finally, BNP Paribas raised shares of Corteva to a "hold" rating in a research report on Monday, February 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, Corteva currently has a consensus rating of "Moderate Buy" and a consensus target price of $67.79.

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Insiders Place Their Bets

In other Corteva news, insider Brian Titus sold 26,560 shares of the company's stock in a transaction that occurred on 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 directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.14% of the stock is currently owned by company insiders.

Corteva Stock Performance

Shares of CTVA opened at $59.98 on Wednesday. The business has a 50-day simple moving average of $61.79 and a two-hundred day simple moving average of $59.64. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.68 and a beta of 0.79.

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

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's dividend payout ratio (DPR) is 52.71%.

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