Advisory Alpha LLC Buys 315 Shares of Corteva, Inc. (NYSE:CTVA)

Advisory Alpha LLC boosted its stake in Corteva, Inc. (NYSE:CTVA) by 7.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,623 shares of the company’s stock after acquiring an additional 315 shares during the quarter. Advisory Alpha LLC’s holdings in Corteva were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CTVA. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in Corteva in the 3rd quarter valued at $99,869,000. Franklin Resources Inc. lifted its position in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. Bank of Montreal Can lifted its position in Corteva by 370.6% during the 2nd quarter. Bank of Montreal Can now owns 1,074,361 shares of the company’s stock worth $57,951,000 after buying an additional 846,065 shares in the last quarter. KBC Group NV lifted its position in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares in the last quarter. Finally, State Street Corp lifted its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have commented on CTVA. KeyCorp cut their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a report on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.59.

Corteva Stock Up 2.7 %

Shares of CTVA opened at $64.19 on Friday. Corteva, Inc. has a 52 week low of $44.91 and a 52 week high of $64.23. The firm has a market cap of $44.12 billion, a P/E ratio of 64.84, a price-to-earnings-growth ratio of 1.64 and a beta of 0.77. The firm’s 50-day simple moving average is $59.25 and its 200 day simple moving average is $57.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva declared that its Board of Directors has initiated a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Corteva 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.