Corteva, Inc. (NYSE:CTVA) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,691,738 shares of the company’s stock after buying an additional 167,742 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Corteva were worth $267,241,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in CTVA. Farther Finance Advisors LLC grew its holdings in shares of Corteva by 26.5% in the third quarter. Farther Finance Advisors LLC now owns 4,210 shares of the company’s stock valued at $248,000 after purchasing an additional 881 shares during the period. QRG Capital Management Inc. boosted its holdings in Corteva by 5.7% in the 3rd quarter. QRG Capital Management Inc. now owns 26,429 shares of the company’s stock valued at $1,554,000 after purchasing an additional 1,420 shares during the last quarter. Crestwood Advisors Group LLC grew its stake in shares of Corteva by 9.5% in the 3rd quarter. Crestwood Advisors Group LLC now owns 4,889 shares of the company’s stock valued at $287,000 after buying an additional 423 shares during the period. Radnor Capital Management LLC increased its holdings in shares of Corteva by 7.1% during the 3rd quarter. Radnor Capital Management LLC now owns 27,960 shares of the company’s stock worth $1,644,000 after buying an additional 1,842 shares during the last quarter. Finally, Olstein Capital Management L.P. raised its position in shares of Corteva by 2.5% during the 3rd quarter. Olstein Capital Management L.P. now owns 162,960 shares of the company’s stock valued at $9,580,000 after buying an additional 3,960 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on CTVA shares. KeyCorp raised their target price on Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research note on Friday, February 7th. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Oppenheimer boosted their price objective on shares of Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday, February 7th. Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Bank of America boosted their price target on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.79.

Corteva Stock Performance

Shares of CTVA stock opened at $61.17 on Thursday. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm has a 50 day moving average of $61.52 and a two-hundred day moving average of $59.44. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The stock has a market capitalization of $41.94 billion, a PE ratio of 47.42, a P/E/G ratio of 1.68 and a beta of 0.79.

Corteva (NYSE:CTVA) last issued its quarterly 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%. On average, research analysts predict that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors 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 dividend on an annualized basis and a yield of 1.11%. Corteva’s dividend payout ratio is currently 52.71%.

Corteva announced that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Brian Titus sold 26,560 shares of Corteva stock in a transaction on Thursday, February 20th. The shares were 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 approximately $723,257.78. The trade was a 70.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

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.