Exchange Capital Management Inc. Buys 469 Shares of Corteva, Inc. (NYSE:CTVA)

Exchange Capital Management Inc. raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 56,337 shares of the company’s stock after acquiring an additional 469 shares during the period. Exchange Capital Management Inc.’s holdings in Corteva were worth $3,209,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in CTVA. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the 3rd quarter valued at about $99,869,000. Franklin Resources Inc. increased its position in shares of Corteva by 6.1% during the 3rd 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 last quarter. KBC Group NV increased its position in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares during the last quarter. State Street Corp increased its position in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in Corteva by 176.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock worth $54,954,000 after acquiring an additional 596,073 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insider Activity

In related news, insider Brian Titus sold 26,560 shares of the firm’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 completion of the transaction, the insider now owns 11,347 shares of the company’s stock, 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 SEC, which is available at this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Corteva Stock Down 0.3 %

NYSE:CTVA opened at $62.59 on Tuesday. Corteva, Inc. has a twelve month low of $50.01 and a twelve month high of $66.24. The company has a market cap of $42.91 billion, a price-to-earnings ratio of 48.52, a price-to-earnings-growth ratio of 1.68 and a beta of 0.78. The stock has a fifty day simple moving average of $60.88 and a 200-day simple moving average of $59.01. 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 announced its earnings results on Wednesday, February 5th. The company reported $0.32 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%. Analysts anticipate that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva declared that its Board of Directors has authorized a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts recently issued reports on CTVA shares. Wells Fargo & Company increased 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. BNP Paribas raised shares of Corteva to a “hold” rating in a report on Monday, February 10th. Barclays increased 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. Royal Bank of Canada increased their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Finally, Citigroup increased their target price on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $67.73.

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.