Ballentine Partners LLC Acquires 1,561 Shares of Corteva, Inc. (NYSE:CTVA)

Ballentine Partners LLC grew its holdings in Corteva, Inc. (NYSE:CTVA) by 9.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 17,868 shares of the company’s stock after buying an additional 1,561 shares during the quarter. Ballentine Partners LLC’s holdings in Corteva were worth $1,018,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Corteva in the 3rd quarter valued at $99,869,000. Franklin Resources Inc. boosted its holdings in 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 acquiring an additional 856,007 shares during the last quarter. Bank of Montreal Can increased its position in Corteva by 370.6% in the second quarter. Bank of Montreal Can now owns 1,074,361 shares of the company’s stock worth $57,951,000 after purchasing an additional 846,065 shares during the period. KBC Group NV raised its holdings in Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Finally, State Street Corp lifted its position 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 purchasing an additional 768,519 shares during the period. 81.54% of the stock is owned by institutional investors.

Corteva Trading Down 1.0 %

CTVA opened at $62.52 on Thursday. The firm’s fifty day simple moving average is $59.15 and its 200 day simple moving average is $57.26. The stock has a market capitalization of $42.97 billion, a P/E ratio of 63.15, a P/E/G ratio of 1.62 and a beta of 0.77. 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, Inc. has a 12 month low of $44.91 and a 12 month high of $64.20.

Corteva announced that its board has approved a stock buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio is currently 68.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTVA shares. Bank of America boosted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Wells Fargo & Company increased their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. KeyCorp cut their target price 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, 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 report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $65.59.

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.