26,575 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by Oak Thistle LLC

Oak Thistle LLC purchased a new position in shares of Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 26,575 shares of the company’s stock, valued at approximately $1,514,000.

Several other institutional investors also recently made changes to their positions in the stock. State Street Corp boosted its holdings in Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after purchasing an additional 355,206 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares during the period. Harris Associates L P increased its position in Corteva by 1.4% during the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after purchasing an additional 200,917 shares in the last quarter. Finally, FMR LLC lifted its position in Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after buying an additional 203,126 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 1.4 %

CTVA stock opened at $60.79 on Wednesday. The firm has a market cap of $41.78 billion, a price-to-earnings ratio of 61.40, a PEG ratio of 1.93 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 firm has a fifty day moving average price of $58.83 and a two-hundred day moving average price of $56.93. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva announced that its Board of Directors has approved a stock repurchase 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 stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are 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 given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.12%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. UBS Group cut their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Barclays upped their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Citigroup dropped their target price on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Finally, Royal Bank of Canada upped their price target on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.47.

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.