Artemis Investment Management LLP Raises Stock Position in Corteva, Inc. (NYSE:CTVA)

Artemis Investment Management LLP lifted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 18.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,047,103 shares of the company's stock after acquiring an additional 161,475 shares during the quarter. Artemis Investment Management LLP owned 0.15% of Corteva worth $59,643,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN purchased a new position in shares of Corteva during the 4th quarter valued at approximately $35,000. Bangor Savings Bank grew its stake in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company's stock valued at $55,000 after acquiring an additional 241 shares during the period. Northwest Investment Counselors LLC purchased a new stake in Corteva in the 3rd quarter worth $56,000. Finally, Pinnacle Bancorp Inc. raised its position in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company's stock worth $57,000 after acquiring an additional 199 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Trading Up 1.1 %

Corteva stock traded up $0.67 during mid-day trading on Monday, hitting $62.30. The company's stock had a trading volume of 2,621,574 shares, compared to its average volume of 2,673,748. Corteva, Inc. has a 1 year low of $44.01 and a 1 year 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 firm has a market capitalization of $42.82 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. The stock's fifty day moving average is $58.96 and its two-hundred day moving average is $57.12.

Corteva announced that its board has initiated a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva's payout ratio is 68.69%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on CTVA. UBS Group dropped their target price on shares of Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Citigroup lowered their price objective on Corteva from $70.00 to $69.00 and set a "buy" rating on the stock in a report on Wednesday, December 18th. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Morgan Stanley reaffirmed an "overweight" rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Finally, Barclays increased their price objective on Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a research note on Friday, November 8th. 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 company. According to data from MarketBeat.com, the stock has a consensus 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.