Corteva, Inc. (NYSE:CTVA) Shares Bought by Trust Co. of Vermont

Trust Co. of Vermont increased its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 56.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 76,783 shares of the company's stock after purchasing an additional 27,693 shares during the quarter. Trust Co. of Vermont's holdings in Corteva were worth $4,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in the stock. Anomaly Capital Management LP bought a new position in Corteva in the 2nd quarter worth approximately $188,578,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of Corteva during the 3rd quarter valued at about $99,869,000. Franklin Resources Inc. grew its position in Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company's stock worth $860,746,000 after acquiring an additional 856,007 shares in the last quarter. Bank of Montreal Can raised its position in Corteva by 370.6% during the second quarter. Bank of Montreal Can now owns 1,074,361 shares of the company's stock valued at $57,951,000 after purchasing an additional 846,065 shares during the period. Finally, KBC Group NV lifted its stake in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company's stock valued at $65,851,000 after purchasing an additional 815,135 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. KeyCorp decreased their price target on Corteva from $69.00 to $68.00 and set an "overweight" rating for the company in a research note on Friday, January 10th. Citigroup cut their price target on Corteva from $70.00 to $69.00 and set a "buy" rating on the stock in a research note on Wednesday, December 18th. Barclays upped 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. Oppenheimer restated an "outperform" rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a "buy" rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Corteva presently has an average rating of "Moderate Buy" and an average target price of $65.47.

Corteva Price Performance

Shares of Corteva stock traded up $0.67 on Friday, hitting $62.30. The company's stock had a trading volume of 2,621,574 shares, compared to its average volume of 2,673,748. The company has a market capitalization of $42.82 billion, a price-to-earnings ratio of 62.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 1 year low of $44.01 and a 1 year high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a fifty day moving average price of $58.96 and a 200-day moving average price of $57.09.

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 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 payout ratio is currently 68.69%.

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

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.