Corteva, Inc. (NYSE:CTVA) Shares Bought by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 36.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,434 shares of the company’s stock after buying an additional 7,563 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,620,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. State Street Corp increased its holdings in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares during the period. Franklin Resources Inc. boosted its position in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares during the period. Harris Associates L P grew its stake in shares of Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares in the last quarter. Finally, FMR LLC raised its holdings in shares of Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after buying an additional 203,126 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CTVA has been the subject of several research reports. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Barclays raised their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Finally, KeyCorp upped their price objective on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.79.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the completion of the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Down 4.3 %

Shares of NYSE CTVA opened at $60.28 on Tuesday. The stock has a market cap of $41.33 billion, a PE ratio of 46.73, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The business has a 50-day moving average price of $61.40 and a 200 day moving average price of $59.38. 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 (NYSE:CTVA) last posted its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. Equities research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Announces Dividend

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

Corteva declared that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s leadership believes its stock is 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.