Corteva, Inc. (NYSE:CTVA) Stake Cut by Folger Nolan Fleming Douglas Capital Management Inc.

Folger Nolan Fleming Douglas Capital Management Inc. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,276,734 shares of the company’s stock after selling 32,583 shares during the period. Corteva accounts for 7.6% of Folger Nolan Fleming Douglas Capital Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Folger Nolan Fleming Douglas Capital Management Inc. owned approximately 0.19% of Corteva worth $72,723,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Roble Belko & Company Inc grew its stake in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares during the period. Rovin Capital UT ADV boosted its holdings in shares of Corteva by 1.3% during the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the period. Proffitt & Goodson Inc. lifted its position in Corteva by 2.2% during the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the period. Finally, Pinnacle Bancorp Inc. grew its holdings in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the period. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Barclays lifted their price target on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Citigroup decreased their target price on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Royal Bank of Canada lifted their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.47.

Corteva Trading Up 1.1 %

NYSE:CTVA opened at $62.30 on Friday. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market cap of $42.82 billion, a PE ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77. The business’s 50 day moving average is $58.88 and its two-hundred day moving average is $56.99.

Corteva Dividend Announcement

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

Corteva announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s leadership believes its shares are undervalued.

Corteva Company 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.