KBC Group NV boosted its position in Corteva, Inc. (NYSE:CTVA – Free Report) by 0.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,121,577 shares of the company’s stock after purchasing an additional 1,473 shares during the quarter. KBC Group NV owned about 0.16% of Corteva worth $63,885,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of CTVA. Capital Advisors Ltd. LLC raised its position in shares of 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 buying an additional 174 shares in the last quarter. First Financial Corp IN bought a new position in Corteva during the 4th quarter worth $35,000. Albion Financial Group UT raised its holdings in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares in the last quarter. Bangor Savings Bank raised its holdings in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after acquiring an additional 241 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Corteva during the 3rd quarter valued at $56,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of research analysts recently commented on CTVA shares. Wells Fargo & Company raised their price target on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Citigroup dropped their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada upped their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Barclays lifted their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. One research 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 presently has an average rating of “Moderate Buy” and a consensus price target of $65.59.
Corteva Trading Down 0.4 %
CTVA opened at $63.96 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a fifty-two week low of $45.01 and a fifty-two week high of $64.32. The company’s 50 day moving average price is $59.56 and its two-hundred day moving average price is $57.48. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77.
Corteva Announces Dividend
The business 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. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, December 2nd. Corteva’s payout ratio is presently 68.69%.
Corteva declared that its board has initiated a stock repurchase program on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are 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.
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