Bartlett & CO. Wealth Management LLC Has $222,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Bartlett & CO. Wealth Management LLC lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 7.1% during the 4th quarter, HoldingsChannel reports. The firm owned 3,894 shares of the company’s stock after selling 299 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Corteva were worth $222,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in Corteva by 44.4% during 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 last quarter. First Financial Corp IN acquired a new position in Corteva during the fourth quarter valued at approximately $35,000. Albion Financial Group UT grew its holdings in Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Bangor Savings Bank grew its holdings in Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after purchasing an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Corteva during the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 0.4 %

Shares of NYSE CTVA opened at $63.96 on Friday. The stock has a market cap of $43.96 billion, a PE ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77. The business has a fifty day moving average of $59.39 and a two-hundred day moving average of $57.35. Corteva, Inc. has a 52-week low of $45.01 and a 52-week high of $64.32. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

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

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. The ex-dividend date was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. Corteva’s payout ratio is presently 68.69%.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTVA. Citigroup reduced their price objective on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday. Finally, UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company 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 assigned a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $65.59.

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.