Brown Lisle Cummings Inc. Acquires 450 Shares of Corteva, Inc. (NYSE:CTVA)

Brown Lisle Cummings Inc. boosted its stake in Corteva, Inc. (NYSE:CTVA) by 159.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 732 shares of the company’s stock after buying an additional 450 shares during the period. Brown Lisle Cummings Inc.’s holdings in Corteva were worth $42,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Chicago Partners Investment Group LLC raised its position in shares of Corteva by 1.2% during the fourth quarter. Chicago Partners Investment Group LLC now owns 13,282 shares of the company’s stock worth $759,000 after acquiring an additional 156 shares during the last quarter. Roble Belko & Company Inc raised its holdings 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 boosted its stake in shares of 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 purchasing an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% in the 3rd 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. Finally, Proffitt & Goodson Inc. raised its stake 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 last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Up 1.8 %

NYSE CTVA opened at $65.79 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $60.15 and a 200 day simple moving average of $57.99. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The firm has a market capitalization of $45.21 billion, a P/E ratio of 66.45, a PEG ratio of 1.71 and a beta of 0.78.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.03%. Corteva’s dividend payout ratio is currently 68.69%.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Wells Fargo & Company upped their price target on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Bank of America upped their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. UBS Group decreased their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. KeyCorp dropped their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Barclays raised their price objective on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.06.

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.