Union Bancaire Privee UBP SA Takes Position in Corteva, Inc. (NYSE:CTVA)

Union Bancaire Privee UBP SA acquired a new stake in Corteva, Inc. (NYSE:CTVA) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 6,610 shares of the company’s stock, valued at approximately $357,000.

Other hedge funds have also modified their holdings of the company. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $27,000. Golden State Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $32,000. Capital Advisors Ltd. LLC raised its stake in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Corteva in the fourth quarter valued at $34,000. Finally, First Financial Corp IN acquired a new stake in shares of Corteva in the fourth quarter valued at $35,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

NYSE CTVA opened at $62.59 on Tuesday. 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, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The business’s 50-day moving average price is $60.88 and its 200 day moving average price is $59.01. The firm has a market cap of $42.91 billion, a P/E ratio of 48.52, a P/E/G ratio of 1.68 and a beta of 0.78.

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

Corteva Dividend Announcement

The business also recently declared 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 dividend yield of 1.09%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

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

Analysts Set New Price Targets

A number of research firms have weighed in on CTVA. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. BNP Paribas upgraded Corteva to a “hold” rating in a research note on Monday, February 10th. KeyCorp raised their price target on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their price target on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the completion of the sale, the insider now owns 11,347 shares in the company, 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 at this link. Corporate insiders own 0.14% of the company’s stock.

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.