Banque Cantonale Vaudoise Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Banque Cantonale Vaudoise boosted its stake in Corteva, Inc. (NYSE:CTVA) by 234.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,952 shares of the company’s stock after purchasing an additional 13,981 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Corteva were worth $1,173,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new stake in shares of Corteva in the first quarter worth about $25,000. Capital Advisors Ltd. LLC raised its holdings in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new position in shares of Corteva during the 2nd quarter valued at approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of Corteva in the second quarter valued at $43,000. Finally, Triad Wealth Partners LLC bought a new stake in Corteva in the second quarter worth $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 0.9 %

Shares of NYSE:CTVA opened at $58.77 on Thursday. The business’s 50 day moving average is $58.49 and its 200 day moving average is $55.72. The stock has a market cap of $40.39 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 52-week low of $43.89 and a 52-week high of $63.75. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva announced that its board has authorized a share buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to repurchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Citigroup began coverage on Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective on the stock. Royal Bank of Canada dropped their target price on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $63.89.

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.