Hilltop Holdings Inc. Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Hilltop Holdings Inc. grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 27.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 9,852 shares of the company’s stock after buying an additional 2,126 shares during the period. Hilltop Holdings Inc.’s holdings in Corteva were worth $579,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. KBC Group NV grew its position in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Corteva by 51.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after purchasing an additional 41,943 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Corteva by 1.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares during the period. Thrivent Financial for Lutherans increased its position in Corteva by 16.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after purchasing an additional 141,898 shares in the last quarter. Finally, Kingsview Wealth Management LLC raised its holdings in Corteva by 468.8% in the third quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock valued at $2,656,000 after buying an additional 37,239 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on CTVA. Bank of America boosted their price objective 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. UBS Group upped their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Finally, KeyCorp raised their target price on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $65.06.

Corteva Price Performance

CTVA opened at $60.82 on Friday. The company has a market capitalization of $41.80 billion, a P/E ratio of 61.43, a PEG ratio of 2.01 and a beta of 0.77. The company has a 50-day moving average of $59.54 and a 200-day moving average of $56.11. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a 1-year low of $43.98 and a 1-year high of $64.20.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

Corteva declared that its Board of Directors has approved a stock repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

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.