GAM Holding AG Sells 1,867 Shares of Corteva, Inc. (NYSE:CTVA)

GAM Holding AG reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 11.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,845 shares of the company’s stock after selling 1,867 shares during the quarter. GAM Holding AG’s holdings in Corteva were worth $789,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hager Investment Management Services LLC bought a new stake in Corteva during the fourth quarter worth $27,000. Golden State Wealth Management LLC bought a new position in shares of Corteva in the fourth quarter valued at about $32,000. Capital Advisors Ltd. LLC raised its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the period. First Financial Corp IN bought a new position in shares of Corteva in the fourth quarter valued at about $35,000. Finally, Albion Financial Group UT raised its position in shares of Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 0.9 %

Shares of Corteva stock opened at $64.51 on Wednesday. The company has a market capitalization of $44.33 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 1.85 and a beta of 0.78. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The firm’s 50-day moving average price is $60.58 and its two-hundred day moving average price is $58.67.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 earnings per share (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%. On average, analysts forecast that Corteva, Inc. will post 2.83 earnings per share for the current fiscal year.

Corteva announced that its board has authorized a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.05%. Corteva’s payout ratio is currently 52.71%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on CTVA shares. UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Citigroup increased their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Bank of America increased their price objective on shares of Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. 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 research report on Tuesday, January 21st. Finally, BNP Paribas raised shares of Corteva to a “hold” rating in a research report on Monday, February 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.