Corteva, Inc. (NYSE:CTVA) Shares Sold by Goelzer Investment Management Inc.

Goelzer Investment Management Inc. reduced its position in Corteva, Inc. (NYSE:CTVA) by 1.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 70,689 shares of the company’s stock after selling 1,302 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Corteva were worth $4,026,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in Corteva during the 3rd quarter valued at approximately $99,869,000. Franklin Resources Inc. increased its holdings in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the period. KBC Group NV raised its stake in shares of 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 holdings in shares of 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 period. Finally, BNP Paribas Financial Markets grew its position in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after buying an additional 596,073 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have commented on CTVA shares. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. KeyCorp lowered their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company increased their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Barclays raised their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $65.59.

Corteva Trading Down 0.4 %

Shares of CTVA stock opened at $63.96 on Friday. The company has a market capitalization of $43.96 billion, a price-to-earnings ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a 50-day moving average price of $59.39 and a 200 day moving average price of $57.35. Corteva, Inc. has a twelve month low of $45.01 and a twelve month high of $64.32.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its board has approved a stock buyback program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

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.