SG Americas Securities LLC Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

SG Americas Securities LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 50.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,251 shares of the company’s stock after selling 10,313 shares during the quarter. SG Americas Securities LLC’s holdings in Corteva were worth $584,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN bought a new stake in Corteva in the fourth quarter valued at about $35,000. Albion Financial Group UT raised its stake in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Bangor Savings Bank lifted its holdings in Corteva by 34.7% during the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Corteva in the 3rd quarter worth approximately $56,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on CTVA. Bank of America raised 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. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Barclays boosted 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. Wells Fargo & Company raised 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. Finally, UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.24.

Corteva Trading Down 1.3 %

Shares of NYSE:CTVA opened at $65.26 on Friday. Corteva, Inc. has a twelve month low of $45.46 and a twelve month high of $66.24. The firm has a market cap of $44.85 billion, a P/E ratio of 65.92, a P/E/G ratio of 1.70 and a beta of 0.77. The company has a 50 day moving average of $60.06 and a 200-day moving average of $57.80. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.04%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its Board of Directors has authorized a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board believes its stock is undervalued.

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.