Corteva, Inc. (NYSE:CTVA) Stock Position Increased by Independent Advisor Alliance

Independent Advisor Alliance grew its position in Corteva, Inc. (NYSE:CTVA) by 7.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,862 shares of the company’s stock after purchasing an additional 565 shares during the period. Independent Advisor Alliance’s holdings in Corteva were worth $462,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the company. KBC Group NV lifted its holdings in Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after acquiring an additional 41,943 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after acquiring an additional 66,052 shares during the period. Thrivent Financial for Lutherans raised its holdings in Corteva by 16.1% during the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after purchasing an additional 141,898 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Corteva by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on CTVA shares. UBS Group lifted their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. 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. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Citigroup initiated coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price on the stock. Finally, Barclays raised their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.06.

Corteva Trading Down 1.2 %

Shares of NYSE CTVA opened at $62.50 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. Corteva, Inc. has a one year low of $43.89 and a one year high of $64.20. The business has a 50-day moving average price of $59.15 and a two-hundred day moving average price of $55.94. The firm has a market capitalization of $42.96 billion, a PE ratio of 63.13, a PEG ratio of 2.08 and a beta of 0.77.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Corteva announced that its board has initiated 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 often an indication that the company’s leadership believes its shares are 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.