Shelton Wealth Management LLC Boosts Stake in Corteva, Inc. (NYSE:CTVA)

Shelton Wealth Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,517 shares of the company’s stock after buying an additional 3,110 shares during the quarter. Shelton Wealth Management LLC’s holdings in Corteva were worth $656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in the business. Premier Path Wealth Partners LLC boosted its stake in Corteva by 8.3% in the 4th quarter. Premier Path Wealth Partners LLC now owns 9,031 shares of the company’s stock worth $514,000 after purchasing an additional 692 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Corteva by 5.0% during the 4th quarter. Integrated Investment Consultants LLC now owns 7,257 shares of the company’s stock valued at $413,000 after purchasing an additional 346 shares during the period. Arkadios Wealth Advisors boosted its position in shares of Corteva by 15.8% during the fourth quarter. Arkadios Wealth Advisors now owns 10,288 shares of the company’s stock worth $586,000 after acquiring an additional 1,401 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Corteva by 9.9% in the fourth quarter. Brooklyn Investment Group now owns 2,744 shares of the company’s stock worth $156,000 after purchasing an additional 248 shares during the last quarter. Finally, Merit Financial Group LLC lifted its position in Corteva by 55.9% in the fourth quarter. Merit Financial Group LLC now owns 5,363 shares of the company’s stock worth $305,000 after buying an additional 1,922 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of CTVA opened at $62.30 on Friday. The company has a 50-day moving average of $58.88 and a two-hundred day moving average of $56.99. The stock has a market cap of $42.82 billion, a P/E ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. 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 has approved a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analysts Set New Price Targets

CTVA has been the topic of several research analyst reports. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group reduced their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Wells Fargo & Company boosted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, KeyCorp cut their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.47.

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.