Citizens National Bank Trust Department Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Citizens National Bank Trust Department lessened its stake in Corteva, Inc. (NYSE:CTVA) by 1.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 11,233 shares of the company’s stock after selling 166 shares during the quarter. Citizens National Bank Trust Department’s holdings in Corteva were worth $640,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of Corteva in the 3rd quarter valued at about $99,869,000. Franklin Resources Inc. lifted its stake in 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 purchasing an additional 856,007 shares during the last quarter. KBC Group NV lifted its stake in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. State Street Corp lifted its stake in Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its stake in Corteva by 176.0% during the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after purchasing an additional 596,073 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on CTVA shares. Wells Fargo & Company boosted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Bank of America boosted their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. KeyCorp boosted their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $67.73.

Corteva Trading Down 1.3 %

NYSE:CTVA opened at $63.65 on Thursday. The firm has a market cap of $43.75 billion, a P/E ratio of 49.34, a PEG ratio of 1.68 and a beta of 0.78. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The stock’s 50 day simple moving average is $60.65 and its 200-day simple moving average is $58.71. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

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

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

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is presently 52.71%.

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.