Perigon Wealth Management LLC Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Perigon Wealth Management LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,062 shares of the company’s stock after buying an additional 760 shares during the period. Perigon Wealth Management LLC’s holdings in Corteva were worth $867,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Foundations Investment Advisors LLC raised its position in shares of Corteva by 7.3% in the 4th quarter. Foundations Investment Advisors LLC now owns 4,726 shares of the company’s stock worth $269,000 after acquiring an additional 323 shares in the last quarter. Pacer Advisors Inc. grew its stake in Corteva by 12.5% in the fourth quarter. Pacer Advisors Inc. now owns 70,746 shares of the company’s stock valued at $4,030,000 after purchasing an additional 7,862 shares during the last quarter. Cornerstone Wealth Group LLC raised its holdings in Corteva by 24.8% in the fourth quarter. Cornerstone Wealth Group LLC now owns 4,528 shares of the company’s stock worth $258,000 after purchasing an additional 899 shares in the last quarter. Union Bancaire Privee UBP SA purchased a new stake in shares of Corteva during the fourth quarter valued at about $357,000. Finally, Blue Trust Inc. boosted its holdings in shares of Corteva by 10.0% in the 4th quarter. Blue Trust Inc. now owns 14,088 shares of the company’s stock valued at $828,000 after buying an additional 1,281 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 1.8 %

Shares of Corteva stock opened at $66.15 on Friday. The stock has a market cap of $45.46 billion, a PE ratio of 66.81, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. The firm has a fifty day moving average price of $59.96 and a 200 day moving average price of $57.74. Corteva, Inc. has a 1 year low of $45.46 and a 1 year high of $66.24. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.03%. Corteva’s payout ratio is currently 68.69%.

Corteva announced that its board has approved a stock repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

Several research firms recently commented on CTVA. KeyCorp reduced their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company 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 stock an “overweight” rating in a research report on Tuesday. 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 report on Thursday, December 19th. Finally, Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $66.24.

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.