Hall Laurie J Trustee Sells 854 Shares of Corteva, Inc. (NYSE:CTVA)

Hall Laurie J Trustee lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 46.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,002 shares of the company’s stock after selling 854 shares during the period. Hall Laurie J Trustee’s holdings in Corteva were worth $57,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. State Street Corp grew its position in Corteva by 2.3% during the third 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. Geode Capital Management LLC grew its holdings in shares of Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. increased its position in shares of 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 purchasing an additional 856,007 shares during the period. Harris Associates L P lifted its position in Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after purchasing an additional 200,917 shares during the period. Finally, FMR LLC grew its stake in Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after buying an additional 203,126 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on CTVA. Citigroup reduced their price target on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company lifted their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. KeyCorp dropped their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. UBS Group lowered 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. Finally, Royal Bank of Canada raised their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Corteva Stock Performance

NYSE:CTVA opened at $62.30 on Monday. The company has a market capitalization of $42.82 billion, a PE ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $44.01 and a fifty-two week 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 company has a 50 day simple moving average of $58.96 and a two-hundred day simple moving average of $57.09.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s payout ratio is 68.69%.

Corteva announced that its Board of Directors has authorized a share buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s management 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.