Foster Group Inc. Sells 2,248 Shares of Corteva, Inc. (NYSE:CTVA)

Foster Group Inc. cut its stake in Corteva, Inc. (NYSE:CTVA) by 22.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,611 shares of the company’s stock after selling 2,248 shares during the quarter. Foster Group Inc.’s holdings in Corteva were worth $434,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV raised its stake in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Oak Thistle LLC purchased a new stake in Corteva during the fourth quarter valued at $1,514,000. Charles Schwab Investment Management Inc. lifted its holdings in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the period. Assenagon Asset Management S.A. boosted its position in Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after purchasing an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC increased its position in shares of Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after purchasing an additional 33,886 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of several recent research reports. Wells Fargo & Company increased their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Royal Bank of Canada increased their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, KeyCorp decreased their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.94.

Corteva Trading Down 0.3 %

NYSE CTVA opened at $64.26 on Wednesday. Corteva, Inc. has a one year low of $45.30 and a one year high of $64.86. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $44.16 billion, a price-to-earnings ratio of 64.90, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. The company’s 50-day simple moving average is $59.71 and its two-hundred day simple moving average is $57.61.

Corteva Announces Dividend

The business also recently disclosed 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 1.06%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Corteva declared that its board has initiated a stock buyback program 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 programs are usually a sign that the company’s management believes its shares are 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.