SG Americas Securities LLC lowered its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 50.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,251 shares of the company's stock after selling 10,313 shares during the period. SG Americas Securities LLC's holdings in Corteva were worth $584,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Advisors Ltd. LLC lifted its position in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. First Financial Corp IN purchased a new position in Corteva during the 4th quarter worth approximately $35,000. Albion Financial Group UT increased its position in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company's stock worth $35,000 after buying an additional 321 shares during the period. Bangor Savings Bank lifted its stake in Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company's stock valued at $55,000 after buying an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Corteva in the third quarter valued at approximately $56,000. 81.54% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
CTVA has been the topic of several recent research reports. Citigroup boosted their price target on Corteva from $69.00 to $74.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Royal Bank of Canada upped their price target on Corteva from $68.00 to $73.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Barclays increased their price target on Corteva from $62.00 to $64.00 and gave the stock an "equal weight" rating in a report on Tuesday, January 21st. KeyCorp dropped their price objective on shares of Corteva from $69.00 to $68.00 and set an "overweight" rating on the stock in a research note on Friday, January 10th. Finally, Bank of America lifted their target price on shares of Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $67.06.
Check Out Our Latest Stock Analysis on CTVA
Corteva Trading Up 1.8 %
Shares of CTVA stock traded up $1.18 during mid-day trading on Tuesday, reaching $65.79. The company's stock had a trading volume of 3,478,872 shares, compared to its average volume of 3,149,690. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $45.21 billion, a PE ratio of 66.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The company's 50 day simple moving average is $60.15 and its 200-day simple moving average is $57.99. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.
Corteva Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva's dividend payout ratio is presently 68.69%.
Corteva announced that its board has initiated a stock repurchase program 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 programs are generally a sign that the company's leadership believes its shares are undervalued.
About Corteva
(
Free Report)
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.
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