Davidson Investment Advisors Has $19.04 Million Position in Corteva, Inc. (NYSE:CTVA)

Davidson Investment Advisors boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 334,220 shares of the company’s stock after buying an additional 3,873 shares during the period. Davidson Investment Advisors’ holdings in Corteva were worth $19,037,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. KBC Group NV raised its holdings 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 buying an additional 815,135 shares during the last quarter. Oak Thistle LLC bought a new position in shares of Corteva in the fourth quarter valued at about $1,514,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after buying an additional 66,052 shares during the last quarter. Van ECK Associates Corp raised its holdings in Corteva by 5.9% during the 4th quarter. Van ECK Associates Corp now owns 9,428,206 shares of the company’s stock worth $537,031,000 after purchasing an additional 525,531 shares during the last quarter. Finally, Swedbank AB raised its holdings in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after purchasing an additional 237,764 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $64.00 on Tuesday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.45 and a quick ratio of 0.96. The stock’s fifty day moving average price is $60.39 and its two-hundred day moving average price is $58.51. Corteva, Inc. has a one year low of $50.01 and a one year high of $66.24. The firm has a market cap of $43.99 billion, a price-to-earnings ratio of 49.61, a P/E/G ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last issued its quarterly earnings data 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 net margin of 5.36% and a return on equity of 7.19%. On average, equities analysts forecast that Corteva, Inc. will post 2.83 EPS for the current year.

Corteva declared that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire 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. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 52.71%.

Analyst Ratings Changes

Several analysts have weighed in on CTVA shares. 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. Wells Fargo & Company boosted their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 28th. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. BNP Paribas upgraded Corteva to a “hold” rating in a research report on Monday, February 10th. Finally, Oppenheimer boosted their target price on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.73.

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.