Saturna Capital Corp Sells 950 Shares of Corteva, Inc. (NYSE:CTVA)

Saturna Capital Corp lessened its position in Corteva, Inc. (NYSE:CTVA) by 2.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,286 shares of the company’s stock after selling 950 shares during the period. Saturna Capital Corp’s holdings in Corteva were worth $1,782,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of CTVA. Noble Wealth Management PBC bought a new position in shares of Corteva during the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC purchased a new position in Corteva during the 4th quarter valued at $27,000. Golden State Wealth Management LLC bought a new position in Corteva in the 4th quarter worth $32,000. Centricity Wealth Management LLC purchased a new stake in shares of Corteva in the 4th quarter worth about $34,000. Finally, First Financial Corp IN bought a new stake in shares of Corteva during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Insiders Place Their Bets

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now owns 11,347 shares in the company, valued at approximately $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 can be accessed through the SEC website. 0.14% of the stock is owned by insiders.

Corteva Trading Down 0.4 %

NYSE:CTVA opened at $59.98 on Wednesday. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 1.68 and a beta of 0.79. The company has a quick ratio of 0.93, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. The company’s 50 day moving average price is $61.79 and its 200-day moving average price is $59.64. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24.

Corteva (NYSE:CTVA) last issued its earnings results on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate 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 research analysts forecast that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

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

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 issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.13%. Corteva’s payout ratio is 52.71%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada raised their target price on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. BNP Paribas raised Corteva to a “hold” rating in a research note on Monday, February 10th. Bank of America raised their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, KeyCorp upped their target price on shares of Corteva from $68.00 to $70.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.79.

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.