Raymond James Trust N.A. Has $2.45 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Raymond James Trust N.A. boosted its position in shares of Corteva, Inc. (NYSE:CTVA) by 16.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 41,587 shares of the company’s stock after purchasing an additional 5,829 shares during the period. Raymond James Trust N.A.’s holdings in Corteva were worth $2,445,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of CTVA. Charles Schwab Investment Management Inc. grew its stake in shares of Corteva by 1.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after buying an additional 66,052 shares in the last quarter. Tradewinds LLC. lifted its stake in Corteva by 23.2% in the third quarter. Tradewinds LLC. now owns 6,203 shares of the company’s stock valued at $365,000 after acquiring an additional 1,168 shares during the last quarter. Cornerstone Advisors LLC raised its holdings in shares of Corteva by 8.6% during the 3rd quarter. Cornerstone Advisors LLC now owns 16,400 shares of the company’s stock valued at $964,000 after purchasing an additional 1,300 shares in the last quarter. Citizens Financial Group Inc. RI lifted its stake in shares of Corteva by 14.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 17,274 shares of the company’s stock valued at $1,016,000 after purchasing an additional 2,142 shares during the last quarter. Finally, Moors & Cabot Inc. boosted its holdings in Corteva by 2.2% in the third quarter. Moors & Cabot Inc. now owns 34,346 shares of the company’s stock worth $2,019,000 after purchasing an additional 726 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of NYSE CTVA opened at $61.23 on Friday. The firm has a market capitalization of $42.08 billion, a price-to-earnings ratio of 61.85, a PEG ratio of 1.97 and a beta of 0.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The business has a fifty day simple moving average of $58.69 and a 200 day simple moving average of $55.77. 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 announced that its board has authorized a share buyback plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Wells Fargo & Company lifted their price target on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Bank of America lifted 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $64.33.

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.