Bleakley Financial Group LLC Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Bleakley Financial Group LLC lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,676 shares of the company’s stock after purchasing an additional 597 shares during the period. Bleakley Financial Group LLC’s holdings in Corteva were worth $722,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Corteva during the 3rd quarter worth about $99,869,000. Franklin Resources Inc. raised its holdings 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 valued at $860,746,000 after acquiring an additional 856,007 shares during the last quarter. KBC Group NV lifted its position in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares in the last quarter. State Street Corp boosted its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of 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 in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $62.32 on Monday. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24. The company has a market cap of $42.83 billion, a P/E ratio of 48.31, a PEG ratio of 1.85 and a beta of 0.78. The firm’s 50 day moving average price is $60.22 and its 200 day moving average price is $58.22.

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 forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva announced that its board has authorized a share repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 52.71%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CTVA. Wells Fargo & Company upped their target price on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. KeyCorp increased their price objective on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer increased their price target on Corteva from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Friday. Finally, Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.31.

About Corteva

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.