Corteva, Inc. (NYSE:CTVA) Shares Sold by Chesley Taft & Associates LLC

Chesley Taft & Associates LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.0% in the fourth quarter, Holdings Channel reports. The firm owned 32,759 shares of the company’s stock after selling 1,375 shares during the period. Chesley Taft & Associates LLC’s holdings in Corteva were worth $1,866,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of CTVA. State Street Corp boosted its holdings in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the period. Geode Capital Management LLC lifted its position in shares of Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. boosted its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares during the period. Harris Associates L P increased its stake in Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after buying an additional 200,917 shares during the period. Finally, FMR LLC lifted its holdings in Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after buying an additional 203,126 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Wells Fargo & Company upped their price target on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. KeyCorp decreased their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada upped their target price on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. 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, the company has a consensus rating of “Moderate Buy” and an average target price of $65.59.

Corteva Trading Up 1.3 %

NYSE:CTVA opened at $63.12 on Wednesday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52-week low of $44.80 and a 52-week high of $64.20. The stock’s 50 day moving average price is $59.03 and its 200 day moving average price is $57.19. The company has a market capitalization of $43.38 billion, a PE ratio of 63.76, a P/E/G ratio of 1.62 and a beta of 0.77.

Corteva announced that its board has authorized a share repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.08%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

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.