Corteva, Inc. (NYSE:CTVA) Stock Position Boosted by S.E.E.D. Planning Group LLC

S.E.E.D. Planning Group LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 54.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 96,103 shares of the company's stock after acquiring an additional 33,886 shares during the period. Corteva makes up approximately 1.8% of S.E.E.D. Planning Group LLC's holdings, making the stock its 20th largest holding. S.E.E.D. Planning Group LLC's holdings in Corteva were worth $5,474,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rovin Capital UT ADV lifted its position in shares of Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company's stock worth $754,000 after purchasing an additional 168 shares in the last quarter. Capital Advisors Ltd. LLC increased its stake in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after buying an additional 174 shares during the period. Proffitt & Goodson Inc. lifted its holdings in Corteva by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company's stock worth $472,000 after buying an additional 174 shares in the last quarter. Pinnacle Bancorp Inc. boosted its position in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company's stock valued at $57,000 after buying an additional 199 shares during the last quarter. Finally, Diversified Trust Co grew its stake in shares of Corteva by 1.0% during the fourth quarter. Diversified Trust Co now owns 21,449 shares of the company's stock valued at $1,222,000 after acquiring an additional 210 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Corteva Stock Performance

NYSE:CTVA traded up $0.03 during mid-day trading on Wednesday, hitting $60.92. The stock had a trading volume of 3,521,079 shares, compared to its average volume of 3,099,398. Corteva, Inc. has a 52 week low of $44.01 and a 52 week 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 stock has a market capitalization of $41.87 billion, a price-to-earnings ratio of 61.54, a P/E/G ratio of 1.93 and a beta of 0.77. The company has a 50 day simple moving average of $58.83 and a 200-day simple moving average of $56.93.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva's dividend payout ratio is presently 68.69%.

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

Analysts Set New Price Targets

Several research firms recently commented on CTVA. Wells Fargo & Company boosted their price target on Corteva from $65.00 to $67.00 and gave the stock an "overweight" rating in a research note on Wednesday, November 20th. UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a "buy" rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada raised 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. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Citigroup decreased their price objective on shares of Corteva from $70.00 to $69.00 and set a "buy" rating for the company in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently 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.