Citizens National Bank Trust Department Decreases Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Citizens National Bank Trust Department decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,233 shares of the company’s stock after selling 166 shares during the period. Citizens National Bank Trust Department’s holdings in Corteva were worth $640,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hager Investment Management Services LLC purchased a new position in shares of Corteva during the 4th quarter valued at approximately $27,000. Golden State Wealth Management LLC purchased a new position in Corteva in the 4th quarter valued at $32,000. Capital Advisors Ltd. LLC lifted its holdings in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN purchased a new position in Corteva in the 4th quarter valued at $35,000. Finally, Albion Financial Group UT lifted 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 purchasing an additional 321 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company raised their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. KeyCorp raised their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Oppenheimer lifted their price target on Corteva from $70.00 to $72.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, BNP Paribas upgraded Corteva to a “hold” rating in a report on Monday, February 10th. One research analyst has rated the stock with a sell rating, four have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Stock Down 1.3 %

Shares of NYSE:CTVA opened at $63.65 on Thursday. The business has a 50-day moving average price of $60.65 and a 200 day moving average price of $58.71. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $43.75 billion, a price-to-earnings ratio of 49.34, a PEG ratio of 1.68 and a beta of 0.78. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24.

Corteva (NYSE:CTVA) last released its earnings results on Wednesday, February 5th. The company reported $0.32 earnings per share for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a net margin of 5.36% and a return on equity of 7.19%. Sell-side analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio is currently 52.71%.

Corteva declared that its board has authorized a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board of directors 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.