Corteva, Inc. (NYSE:CTVA) Shares Sold by Murphy Pohlad Asset Management LLC

Murphy Pohlad Asset Management LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,442 shares of the company’s stock after selling 300 shares during the quarter. Corteva accounts for 2.0% of Murphy Pohlad Asset Management LLC’s investment portfolio, making the stock its 8th largest holding. Murphy Pohlad Asset Management LLC’s holdings in Corteva were worth $4,753,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of CTVA. Swedbank AB raised its stake in Corteva by 51.9% during the 4th quarter. Swedbank AB now owns 695,641 shares of the company’s stock worth $39,624,000 after buying an additional 237,764 shares during the period. Hantz Financial Services Inc. increased its holdings in shares of Corteva by 5.5% during the fourth quarter. Hantz Financial Services Inc. now owns 45,210 shares of the company’s stock valued at $2,575,000 after acquiring an additional 2,347 shares in the last quarter. Stonegate Investment Group LLC lifted its holdings in shares of Corteva by 25.3% in the 4th quarter. Stonegate Investment Group LLC now owns 9,395 shares of the company’s stock worth $535,000 after purchasing an additional 1,897 shares in the last quarter. Perigon Wealth Management LLC grew its position in Corteva by 5.7% in the 4th quarter. Perigon Wealth Management LLC now owns 14,062 shares of the company’s stock valued at $867,000 after purchasing an additional 760 shares during the period. Finally, Foundations Investment Advisors LLC increased its stake in Corteva by 7.3% during the 4th quarter. Foundations Investment Advisors LLC now owns 4,726 shares of the company’s stock valued at $269,000 after purchasing an additional 323 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

NYSE CTVA opened at $65.06 on Thursday. 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 $44.72 billion, a PE ratio of 65.72, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a 52 week low of $45.46 and a 52 week high of $65.44. The firm’s 50-day simple moving average is $59.83 and its two-hundred day simple moving average is $57.69.

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

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. 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 note on Tuesday, January 21st. KeyCorp decreased their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Royal Bank of Canada lifted their target price on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Bank of America lifted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $66.24.

Corteva 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.