Park National Corp OH Lowers Holdings in Corteva, Inc. (NYSE:CTVA)

Park National Corp OH lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 5.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,890 shares of the company’s stock after selling 318 shares during the quarter. Park National Corp OH’s holdings in Corteva were worth $335,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% in the 3rd 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. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the second quarter valued at about $43,000. Bangor Savings Bank increased its position in shares of Corteva by 34.7% during the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after acquiring an additional 241 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Corteva in the 3rd quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. lifted its holdings in shares of Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after acquiring an additional 199 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.1 %

CTVA opened at $57.10 on Thursday. 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, Inc. has a one year low of $44.01 and a one year high of $64.20. The company has a market cap of $39.24 billion, a P/E ratio of 57.68, a PEG ratio of 1.94 and a beta of 0.77. The business’s 50-day simple moving average is $59.03 and its 200-day simple moving average is $56.76.

Corteva Dividend Announcement

The business 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. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s dividend payout ratio is currently 68.69%.

Corteva declared that its Board of Directors has initiated a stock repurchase plan 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 plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Bank of America boosted their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their target price on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Citigroup reduced their price target on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Finally, Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $65.41.

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.