First Horizon Advisors Inc. Sells 367 Shares of Corteva, Inc. (NYSE:CTVA)

First Horizon Advisors Inc. decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.3% during the fourth quarter, HoldingsChannel reports. The fund owned 3,181 shares of the company’s stock after selling 367 shares during the quarter. First Horizon Advisors Inc.’s holdings in Corteva were worth $181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC grew its holdings in Corteva by 1.2% during the 4th quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock valued at $759,000 after purchasing an additional 156 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Corteva by 3.6% during the fourth quarter. Avidian Wealth Enterprises LLC now owns 4,521 shares of the company’s stock valued at $258,000 after buying an additional 157 shares during the period. Beacon Capital Management LLC grew its stake in shares of Corteva by 13.4% during the fourth quarter. Beacon Capital Management LLC now owns 1,341 shares of the company’s stock valued at $76,000 after buying an additional 158 shares during the last quarter. Roble Belko & Company Inc raised its holdings in shares of Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after buying an additional 166 shares during the period. Finally, Rovin Capital UT ADV lifted its stake in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after acquiring an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Buying and Selling

In related news, insider Brian Titus sold 26,560 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the transaction, the insider now directly owns 11,347 shares in the company, valued at $723,257.78. The trade was a 70.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research analyst reports. BNP Paribas raised Corteva to a “hold” rating in a research report on Monday, February 10th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Oppenheimer upped their target price on shares of Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada raised their target price on shares of Corteva from $72.00 to $73.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Stock Up 0.6 %

Shares of NYSE CTVA opened at $62.96 on Wednesday. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The stock’s fifty day simple moving average is $60.97 and its two-hundred day simple moving average is $59.09. The stock has a market capitalization of $43.16 billion, a PE ratio of 48.80, a price-to-earnings-growth 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.

Corteva (NYSE:CTVA) last issued 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 net margin of 5.36% and a return on equity of 7.19%. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board believes its shares are undervalued.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 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.