S.E.E.D. Planning Group LLC Raises Stake in Corteva, Inc. (NYSE:CTVA)

S.E.E.D. Planning Group LLC increased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 54.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,103 shares of the company’s stock after buying an additional 33,886 shares during the period. Corteva comprises about 1.8% of S.E.E.D. Planning Group LLC’s holdings, making the stock its 20th biggest position. S.E.E.D. Planning Group LLC’s holdings in Corteva were worth $5,474,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in CTVA. Assenagon Asset Management S.A. raised its stake in shares of Corteva by 755.8% in the fourth quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after buying an additional 488,181 shares during the period. Oak Thistle LLC purchased a new stake in Corteva during the fourth quarter valued at about $1,514,000. SeaCrest Wealth Management LLC boosted its position in Corteva by 4.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 6,288 shares of the company’s stock worth $358,000 after purchasing an additional 244 shares during the period. Rosenberg Matthew Hamilton increased its stake in shares of Corteva by 8.9% in the fourth quarter. Rosenberg Matthew Hamilton now owns 3,009 shares of the company’s stock worth $171,000 after purchasing an additional 247 shares in the last quarter. Finally, First Financial Corp IN bought a new stake in shares of Corteva in the fourth quarter valued at approximately $35,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.4 %

Shares of NYSE:CTVA opened at $60.79 on Wednesday. The firm has a fifty day moving average of $58.83 and a 200 day moving average of $56.93. Corteva, Inc. has a 52-week low of $44.01 and a 52-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 firm has a market capitalization of $41.78 billion, a PE ratio of 61.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

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

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.12%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several analyst reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Citigroup reduced their price target on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada boosted their price objective on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Barclays raised their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Finally, KeyCorp decreased their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average target price of $65.47.

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.