M&T Bank Corp Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

M&T Bank Corp increased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 0.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,077,000 shares of the company's stock after purchasing an additional 16,087 shares during the quarter. M&T Bank Corp owned 0.30% of Corteva worth $122,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in CTVA. TCW Group Inc. grew its holdings in shares of Corteva by 2.4% in the third quarter. TCW Group Inc. now owns 81,477 shares of the company's stock worth $4,790,000 after purchasing an additional 1,880 shares during the last quarter. Toronto Dominion Bank boosted its position in Corteva by 0.8% during the 3rd quarter. Toronto Dominion Bank now owns 349,596 shares of the company's stock valued at $20,553,000 after buying an additional 2,660 shares during the period. Coldstream Capital Management Inc. grew its holdings in Corteva by 2.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 12,931 shares of the company's stock worth $759,000 after acquiring an additional 350 shares during the last quarter. Geode Capital Management LLC increased its position 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 valued at $1,037,505,000 after acquiring an additional 355,206 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its stake in shares of Corteva by 1.4% during the third quarter. Nomura Asset Management Co. Ltd. now owns 415,007 shares of the company's stock valued at $24,398,000 after acquiring an additional 5,819 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on CTVA shares. Wells Fargo & Company boosted their price target on Corteva from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Royal Bank of Canada boosted their target price on Corteva from $68.00 to $73.00 and gave the company an "outperform" rating in a research note on Thursday. Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the stock a "buy" rating in a research note on Wednesday, November 20th. KeyCorp boosted their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Finally, Barclays raised their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $65.41.

Corteva Stock Up 2.4 %

Shares of NYSE:CTVA traded up $1.32 on Friday, hitting $57.48. 10,975,927 shares of the company traded hands, compared to its average volume of 3,345,328. The company has a market cap of $39.51 billion, a PE ratio of 58.06, a PEG ratio of 1.94 and a beta of 0.77. The stock has a 50 day simple moving average of $59.75 and a 200-day simple moving average of $56.33. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.18%. Corteva's dividend payout ratio (DPR) is presently 68.69%.

Corteva announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management 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.