Corteva, Inc. (NYSE:CTVA) Shares Bought by Sanctuary Advisors LLC

Sanctuary Advisors LLC lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 27.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 107,713 shares of the company’s stock after buying an additional 23,251 shares during the period. Sanctuary Advisors LLC’s holdings in Corteva were worth $6,595,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% during 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 in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva during the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva in the second quarter valued at $43,000. Bangor Savings Bank lifted its holdings in shares of Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in Corteva during the third quarter worth about $56,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 0.3 %

CTVA stock opened at $59.49 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a market cap of $40.89 billion, a PE ratio of 60.09, a PEG ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a 1 year low of $44.01 and a 1 year high of $64.20. The company has a fifty day simple moving average of $59.68 and a 200 day simple moving average of $56.26.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.14%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analyst Upgrades and Downgrades

Several research firms have issued reports on CTVA. Barclays upped their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Wells Fargo & Company upped their target price on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Citigroup started coverage on Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, UBS Group raised their price objective on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.06.

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.