Corteva, Inc. (NYSE:CTVA) Shares Sold by Capital Investment Advisory Services LLC

Capital Investment Advisory Services LLC trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 9.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,683 shares of the company’s stock after selling 499 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Corteva were worth $267,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roble Belko & Company Inc grew its position in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the last quarter. Rovin Capital UT ADV increased its position in Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares during the period. Capital Advisors Ltd. LLC raised its stake in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. Proffitt & Goodson Inc. lifted its position in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares during the period. Finally, Pinnacle Bancorp Inc. grew its stake in shares of 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 purchasing an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $65.26 on Friday. The company has a 50-day moving average of $60.06 and a two-hundred day moving average of $57.80. The stock has a market cap of $44.85 billion, a P/E ratio of 65.92, a PEG ratio of 1.70 and a beta of 0.77. Corteva, Inc. has a 12-month low of $45.46 and a 12-month high of $66.24. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

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

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is currently 68.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on CTVA shares. Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Royal Bank of Canada lifted their target price on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Barclays raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Oppenheimer reiterated 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. Finally, Citigroup raised their price target on Corteva from $69.00 to $74.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price 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.