Courier Capital LLC Reduces Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC lessened its position in shares of Corteva, Inc. (NYSE:CTVA) by 24.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,326 shares of the company’s stock after selling 2,967 shares during the quarter. Courier Capital LLC’s holdings in Corteva were worth $531,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Rovin Capital UT ADV lifted its position in shares of Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares in the last quarter. 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. Proffitt & Goodson Inc. boosted its stake in shares of Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after purchasing an additional 174 shares during the last quarter. Pinnacle Bancorp Inc. grew its holdings 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 buying an additional 199 shares in the last quarter. Finally, Diversified Trust Co raised its position in shares of Corteva by 1.0% in the fourth quarter. Diversified Trust Co now owns 21,449 shares of the company’s stock valued at $1,222,000 after buying an additional 210 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of analyst reports. Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Citigroup dropped their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.47.

Corteva Stock Up 5.0 %

Shares of Corteva stock opened at $59.95 on Tuesday. The company has a fifty day moving average price of $58.85 and a 200 day moving average price of $56.88. 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, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of 60.56, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.13%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Corteva declared that its board has authorized a share buyback program on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

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.