Jones Financial Companies Lllp Has $3.57 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Jones Financial Companies Lllp lifted its stake in Corteva, Inc. (NYSE:CTVA) by 49.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 62,657 shares of the company’s stock after acquiring an additional 20,609 shares during the quarter. Jones Financial Companies Lllp’s holdings in Corteva were worth $3,569,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. KBC Group NV grew its holdings 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 period. Oak Thistle LLC bought a new stake in shares of Corteva during the fourth quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Corteva by 5.9% during the fourth quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after acquiring an additional 525,531 shares during the period. Finally, Swedbank AB boosted its holdings in shares of Corteva by 51.9% during the fourth quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after acquiring an additional 237,764 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $59.77 on Wednesday. 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 twelve month low of $50.01 and a twelve month high of $66.24. The stock has a market cap of $40.97 billion, a price-to-earnings ratio of 46.33, a P/E/G ratio of 1.68 and a beta of 0.79. The company’s fifty day moving average is $61.45 and its 200 day moving average is $59.42.

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 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%. Sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

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 paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva’s dividend payout ratio is 52.71%.

Corteva announced that its Board of Directors has approved a share buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. Barclays boosted their price objective on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Royal Bank of Canada lifted their price target on shares of Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. KeyCorp lifted their price target on shares of Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. BNP Paribas upgraded shares of Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, UBS Group dropped their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.79.

Insider Buying and Selling

In other Corteva news, insider Brian Titus sold 26,560 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total transaction of $1,692,934.40. Following the sale, the insider now owns 11,347 shares of the company’s stock, valued at approximately $723,257.78. This represents a 70.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.14% of the stock is currently owned by insiders.

Corteva Company 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.