Hilltop National Bank Sells 1,945 Shares of Corteva, Inc. (NYSE:CTVA)

Hilltop National Bank trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 57.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,429 shares of the company’s stock after selling 1,945 shares during the quarter. Hilltop National Bank’s holdings in Corteva were worth $81,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Rovin Capital UT ADV raised 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 acquiring an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC raised its position in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the last quarter. Proffitt & Goodson Inc. raised its position in shares of Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in shares of Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after acquiring an additional 199 shares during the last quarter. Finally, Diversified Trust Co raised its position in shares of Corteva by 1.0% during the fourth quarter. Diversified Trust Co now owns 21,449 shares of the company’s stock worth $1,222,000 after acquiring an additional 210 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on CTVA shares. KeyCorp lowered their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday. Royal Bank of Canada lifted their target price on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Oppenheimer reiterated 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. UBS Group lowered their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays lifted their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. One equities 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 stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Corteva Stock Performance

Shares of Corteva stock opened at $57.04 on Friday. The business’s fifty day simple moving average is $58.88 and its 200 day simple moving average is $56.79. The firm has a market capitalization of $39.20 billion, a P/E ratio of 57.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a 12 month low of $44.01 and a 12 month 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.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Corteva announced that its Board of Directors has approved 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 repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is 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.