AlphaMark Advisors LLC Sells 1,913 Shares of Corteva, Inc. (NYSE:CTVA)

AlphaMark Advisors LLC decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 32.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 4,055 shares of the company’s stock after selling 1,913 shares during the quarter. AlphaMark Advisors LLC’s holdings in Corteva were worth $231,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN bought a new stake in shares of Corteva during the fourth quarter worth $35,000. Albion Financial Group UT boosted its stake in shares of Corteva by 112.6% during the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Bangor Savings Bank grew 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 worth $55,000 after purchasing an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Corteva in the 3rd quarter worth about $56,000. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America raised their target price 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. KeyCorp reduced their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Wells Fargo & Company upped their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $65.59.

Corteva Stock Performance

Shares of CTVA opened at $63.96 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 $43.96 billion, a PE ratio of 64.61, a P/E/G ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a 12 month low of $45.01 and a 12 month high of $64.32. The stock has a fifty day moving average price of $59.56 and a 200-day moving average price of $57.43.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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