Greenleaf Trust Purchases 2,122 Shares of Corteva, Inc. (NYSE:CTVA)

Greenleaf Trust raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,984 shares of the company’s stock after acquiring an additional 2,122 shares during the quarter. Greenleaf Trust’s holdings in Corteva were worth $1,081,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of CTVA. Capital Advisors Ltd. LLC grew its holdings in Corteva by 44.4% in the third 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 period. 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 position in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after buying an additional 321 shares in the last quarter. Bangor Savings Bank raised its stake in Corteva by 34.7% during the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares during the period. Finally, Heck Capital Advisors LLC bought a new position in Corteva in the fourth quarter worth approximately $55,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA stock opened at $64.57 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $44.37 billion, a price-to-earnings ratio of 65.22, a P/E/G ratio of 1.71 and a beta of 0.78. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The firm’s 50-day simple moving average is $60.14 and its two-hundred day simple moving average is $57.93.

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

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a dividend of $0.17 per share. 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 68.69%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. UBS Group decreased their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Wells Fargo & Company upped their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a report on Tuesday, January 28th. Citigroup lifted their price objective on shares of Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. 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. Finally, KeyCorp cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price 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.