Hosking Partners LLP Sells 70,581 Shares of Corteva, Inc. (NYSE:CTVA)

Hosking Partners LLP trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 43.2% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 92,667 shares of the company’s stock after selling 70,581 shares during the quarter. Hosking Partners LLP’s holdings in Corteva were worth $5,278,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Hager Investment Management Services LLC bought a new stake in shares of Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the 4th quarter worth $32,000. Centricity Wealth Management LLC purchased a new position in Corteva during the fourth quarter valued at $34,000. First Financial Corp IN bought a new stake in Corteva during the fourth quarter valued at about $35,000. Finally, Albion Financial Group UT increased its position 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 buying an additional 321 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CTVA shares. Royal Bank of Canada lifted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. 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. Citigroup upped their price objective on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Bank of America raised their price target on Corteva from $69.00 to $73.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Finally, UBS Group dropped 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Stock Up 0.0 %

Shares of NYSE CTVA opened at $62.82 on Friday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The firm has a market capitalization of $43.07 billion, a price-to-earnings ratio of 48.70, a PEG ratio of 1.68 and a beta of 0.78. The stock has a 50 day moving average price of $61.23 and a 200 day moving average price of $59.14. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.93 and a current ratio of 1.45.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share 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%. Sell-side analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.08%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Corteva announced that its board has approved a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Corteva

In other news, insider Brian Titus sold 26,560 shares of the firm’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 sale, the insider now directly owns 11,347 shares in the company, valued at approximately $723,257.78. This trade represents a 70.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.14% of the company’s stock.

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.