Corteva, Inc. (NYSE:CTVA) Stock Holdings Boosted by Blue Trust Inc.

Blue Trust Inc. raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,088 shares of the company’s stock after purchasing an additional 1,281 shares during the period. Blue Trust Inc.’s holdings in Corteva were worth $828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of CTVA. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Corteva during the 3rd quarter worth $99,869,000. Franklin Resources Inc. raised its stake in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares in the last quarter. KBC Group NV grew its position in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares in the last quarter. State Street Corp raised its position in shares of Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after buying an additional 768,519 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Corteva by 176.0% in the third quarter. BNP Paribas Financial Markets now owns 934,748 shares of the company’s stock valued at $54,954,000 after acquiring an additional 596,073 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Bank of America boosted their price target 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 reduced their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, Barclays increased their target price on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. One investment 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. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $66.24.

Corteva Stock Up 1.2 %

Corteva stock opened at $65.06 on Thursday. The firm’s 50 day moving average price is $59.83 and its two-hundred day moving average price is $57.69. The firm has a market cap of $44.72 billion, a PE ratio of 65.72, a P/E/G ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a twelve month low of $45.46 and a twelve month high of $65.44. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.05%. The ex-dividend date is Monday, March 3rd. Corteva’s payout ratio is currently 68.69%.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

About Corteva

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.