Financial Life Planners Takes $55,000 Position in Corteva, Inc. (NYSE:CTVA)

Financial Life Planners bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, Holdings Channel reports. The fund bought 972 shares of the company’s stock, valued at approximately $55,000.

A number of other institutional investors and hedge funds have also bought and sold shares of CTVA. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN acquired a new stake in shares of Corteva in the 4th quarter valued at about $35,000. Albion Financial Group UT increased its holdings in shares of 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 acquiring an additional 321 shares in the last quarter. Bangor Savings Bank raised its holdings in Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the last quarter. Finally, Heck Capital Advisors LLC bought a new position in Corteva in the 4th quarter valued at about $55,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of Corteva stock opened at $65.26 on Monday. Corteva, Inc. has a 12 month low of $45.46 and a 12 month high of $66.24. The business has a fifty day simple moving average of $60.14 and a two-hundred day simple moving average of $57.93. The firm has a market capitalization of $44.85 billion, a P/E ratio of 65.92, a P/E/G ratio of 1.71 and a beta of 0.78. 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 of Directors has initiated a share repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

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

Analyst Ratings Changes

Several analysts have recently issued reports on CTVA shares. Barclays upped their target price on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company boosted their target price on shares of Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. Bank of America upped their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $67.06.

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.