26,575 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Oak Thistle LLC

Oak Thistle LLC bought a new stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,575 shares of the company's stock, valued at approximately $1,514,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its position in Corteva by 2.3% in the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company's stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the period. Geode Capital Management LLC raised its holdings in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company's stock worth $1,037,505,000 after buying an additional 355,206 shares during the period. Franklin Resources Inc. lifted its stake in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Harris Associates L P boosted its holdings in Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company's stock valued at $844,360,000 after acquiring an additional 200,917 shares during the period. Finally, FMR LLC lifted its position in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company's stock worth $631,863,000 after purchasing an additional 203,126 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on CTVA shares. Oppenheimer restated an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. Barclays lifted their price objective on Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Corteva from $65.00 to $67.00 and gave the company an "overweight" rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada upped their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and an average price target of $65.47.

Corteva Stock Performance

CTVA stock traded up $0.03 during midday trading on Wednesday, reaching $60.92. The stock had a trading volume of 3,521,079 shares, compared to its average volume of 3,099,398. The firm has a fifty day simple moving average of $58.83 and a two-hundred day simple moving average of $56.93. Corteva, Inc. has a 52-week low of $44.01 and a 52-week high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $41.87 billion, a PE ratio of 61.54, a P/E/G ratio of 1.93 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. 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 68.69%.

Corteva declared that its board has initiated a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's board of directors believes its stock is undervalued.

Corteva 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.