Czech National Bank Buys 8,001 Shares of Corteva, Inc. (NYSE:CTVA)

Czech National Bank grew its stake in Corteva, Inc. (NYSE:CTVA) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 149,019 shares of the company’s stock after acquiring an additional 8,001 shares during the period. Czech National Bank’s holdings in Corteva were worth $8,488,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the stock. KBC Group NV raised its position in Corteva by 267.3% in the 3rd 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 last quarter. Charles Schwab Investment Management Inc. lifted its stake 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 valued at $265,966,000 after acquiring an additional 66,052 shares during the period. Thrivent Financial for Lutherans boosted its holdings in Corteva by 16.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after acquiring an additional 141,898 shares during the last quarter. Kingsview Wealth Management LLC increased its position in Corteva by 468.8% in the third quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after purchasing an additional 37,239 shares during the period. Finally, Nisa Investment Advisors LLC raised its holdings in Corteva by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 1.4 %

NYSE CTVA opened at $60.79 on Wednesday. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $58.83 and a 200-day moving average of $56.93. The company has a market cap of $41.78 billion, a PE ratio of 61.40, a PEG ratio of 1.93 and a beta of 0.77.

Corteva announced that its Board of Directors has initiated a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CTVA. Wells Fargo & Company lifted their price target on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays lifted their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Citigroup cut their price target on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday, December 18th. Bank of America lifted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $65.47.

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.