Fisher Asset Management LLC Sells 2,146 Shares of Corteva, Inc. (NYSE:CTVA)

Fisher Asset Management LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 23.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,897 shares of the company’s stock after selling 2,146 shares during the quarter. Fisher Asset Management LLC’s holdings in Corteva were worth $393,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Hager Investment Management Services LLC bought a new position in Corteva during the 4th quarter worth $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva during the 4th quarter worth $32,000. Centricity Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter worth $34,000. First Financial Corp IN acquired a new position in Corteva in the fourth quarter valued at about $35,000. Finally, Albion Financial Group UT lifted its position in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corteva

In related 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 sale, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.14% of the stock is owned by corporate insiders.

Corteva Stock Down 0.4 %

NYSE:CTVA opened at $60.62 on Friday. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.93. The company has a market cap of $41.56 billion, a PE ratio of 46.99, a P/E/G ratio of 1.68 and a beta of 0.79. The firm’s 50 day simple moving average is $61.66 and its 200 day simple moving average is $59.49.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.32 EPS 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%. On average, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva announced that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders 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 dividend yield of 1.12%. Corteva’s payout ratio is 52.71%.

Analysts Set New Price Targets

CTVA has been the topic of several recent analyst reports. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. KeyCorp lifted their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Citigroup upped their target price on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Bank of America lifted their price target on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, UBS Group lowered their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $67.79.

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.