Corteva, Inc. (NYSE:CTVA) is Folger Nolan Fleming Douglas Capital Management Inc.'s 3rd Largest Position

Folger Nolan Fleming Douglas Capital Management Inc. decreased its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,276,734 shares of the company's stock after selling 32,583 shares during the period. Corteva comprises approximately 7.6% of Folger Nolan Fleming Douglas Capital Management Inc.'s portfolio, making the stock its 3rd biggest holding. Folger Nolan Fleming Douglas Capital Management Inc. owned 0.19% of Corteva worth $72,723,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of CTVA. American Century Companies Inc. boosted its stake in Corteva by 3.8% in the 2nd quarter. American Century Companies Inc. now owns 117,070 shares of the company's stock worth $6,315,000 after purchasing an additional 4,255 shares during the period. Federated Hermes Inc. grew its stake in Corteva by 20.0% during the second quarter. Federated Hermes Inc. now owns 14,350 shares of the company's stock valued at $774,000 after acquiring an additional 2,392 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. increased its holdings in Corteva by 4.3% during the 2nd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 21,291 shares of the company's stock worth $1,148,000 after acquiring an additional 869 shares during the period. Vanguard Personalized Indexing Management LLC lifted its stake in Corteva by 6.2% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 53,657 shares of the company's stock worth $2,894,000 after purchasing an additional 3,126 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Corteva by 12.9% in the 2nd quarter. Hsbc Holdings PLC now owns 1,312,347 shares of the company's stock valued at $70,902,000 after purchasing an additional 150,029 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Trading Up 1.1 %

CTVA traded up $0.67 during midday trading on Friday, reaching $62.30. 2,621,574 shares of the company's stock traded hands, compared to its average volume of 2,673,748. 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 current ratio of 1.50 and a quick ratio of 0.96. The firm has a fifty day moving average of $58.96 and a two-hundred day moving average of $57.09. The stock has a market capitalization of $42.82 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77.

Corteva announced that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva's dividend payout ratio is presently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. Citigroup cut their price objective on Corteva from $70.00 to $69.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. Bank of America raised their price objective on Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company upped their target price on Corteva from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. One 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. According to data from MarketBeat.com, Corteva currently has an average rating of "Moderate Buy" and an average price target 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.