Sanctuary Advisors LLC Has $6.60 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Sanctuary Advisors LLC lifted its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 27.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 107,713 shares of the company's stock after acquiring an additional 23,251 shares during the period. Sanctuary Advisors LLC's holdings in Corteva were worth $6,595,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Capital Advisors Ltd. LLC increased its stake in shares of Corteva by 44.4% in 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. Cultivar Capital Inc. bought a new position in Corteva in the 2nd quarter worth $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva during the 2nd quarter valued at $43,000. Bangor Savings Bank increased its holdings in shares of Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company's stock valued at $55,000 after acquiring an additional 241 shares in the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Corteva during the third quarter valued at $56,000. Institutional investors own 81.54% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Barclays increased their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. Bank of America lifted their price target on Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Royal Bank of Canada cut their target price on Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. KeyCorp increased their target price on shares of Corteva from $66.00 to $69.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Morgan Stanley reiterated an "overweight" rating and set a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of "Moderate Buy" and a consensus price target of $65.06.

Corteva Price Performance

Shares of NYSE CTVA traded up $0.19 during midday trading on Friday, reaching $59.49. The company's stock had a trading volume of 1,990,520 shares, compared to its average volume of 3,298,174. The company has a market cap of $40.89 billion, a price-to-earnings ratio of 60.09, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a one year low of $44.01 and a one 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 company has a 50 day moving average price of $59.68 and a 200 day moving average price of $56.26.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva's dividend payout ratio (DPR) is presently 68.69%.

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

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.