Windward Capital Management Co. CA Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Windward Capital Management Co. CA trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 0.8% in the 4th quarter, HoldingsChannel reports. The firm owned 77,433 shares of the company’s stock after selling 634 shares during the quarter. Windward Capital Management Co. CA’s holdings in Corteva were worth $4,411,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of CTVA. Capital Advisors Ltd. LLC lifted its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the period. First Financial Corp IN bought a new position in shares of Corteva in the 4th quarter worth about $35,000. Albion Financial Group UT lifted its position in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after acquiring an additional 321 shares during the period. Brown Lisle Cummings Inc. boosted its stake in Corteva by 159.6% during the fourth quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company’s stock worth $42,000 after acquiring an additional 450 shares in the last quarter. Finally, Bangor Savings Bank grew its holdings in 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 period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.8 %

Shares of CTVA stock opened at $65.79 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $66.24. The stock has a market cap of $45.21 billion, a P/E ratio of 66.45, a P/E/G ratio of 1.71 and a beta of 0.78. The company has a 50 day simple moving average of $60.15 and a two-hundred day simple moving average of $57.99.

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

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. Corteva’s dividend payout ratio is currently 68.69%.

Analyst Ratings Changes

CTVA has been the topic of a number of analyst reports. UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company increased their target price on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Bank of America upped their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada lifted their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $67.06.

Corteva 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.