Corteva, Inc. (NYSE:CTVA) Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,182 shares of the company’s stock after selling 513 shares during the quarter. Mutual Advisors LLC’s holdings in Corteva were worth $319,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of CTVA. Independent Wealth Network Inc. purchased a new stake in shares of Corteva during the 4th quarter valued at about $211,000. Janney Montgomery Scott LLC raised its stake in shares of Corteva by 12.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 114,957 shares of the company’s stock valued at $6,548,000 after purchasing an additional 12,800 shares during the period. Lake Hills Wealth Management LLC acquired a new position in shares of Corteva during the fourth quarter worth $417,000. Albion Financial Group UT grew its holdings in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares in the last quarter. Finally, Advisory Alpha LLC increased its stake in Corteva by 7.3% during the 4th quarter. Advisory Alpha LLC now owns 4,623 shares of the company’s stock worth $263,000 after buying an additional 315 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 0.3 %

NYSE:CTVA opened at $64.26 on Wednesday. The firm has a market capitalization of $44.16 billion, a P/E ratio of 64.90, a P/E/G ratio of 1.63 and a beta of 0.77. The business has a 50 day simple moving average of $59.71 and a 200 day simple moving average of $57.61. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 12-month low of $45.30 and a 12-month high of $64.86.

Corteva declared that its board has initiated 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 purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

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 issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday. Bank of America lifted their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. UBS Group decreased their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. KeyCorp cut their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Royal Bank of Canada raised their price objective on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One equities 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 stock. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $65.94.

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.