Corteva, Inc. (NYSE:CTVA) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,752 shares of the company’s stock after selling 1,039 shares during the quarter. Park Avenue Securities LLC’s holdings in Corteva were worth $2,150,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its position in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares in the last quarter. First Financial Corp IN acquired a new position in shares of Corteva during the 4th quarter worth $35,000. Bangor Savings Bank boosted its position in shares of Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Corteva in the 3rd quarter valued at about $56,000. Finally, Pinnacle Bancorp Inc. increased its holdings in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

CTVA stock opened at $62.30 on Friday. The company has a market cap of $42.82 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. 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 stock has a 50-day moving average price of $58.88 and a two-hundred day moving average price of $56.99. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20.

Corteva announced that its board has initiated a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued 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 1.09%. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

CTVA has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. KeyCorp cut their price target on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Royal Bank of Canada boosted their target price on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $65.47.

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.