Summit Trail Advisors LLC Purchases 600 Shares of Corteva, Inc. (NYSE:CTVA)

Summit Trail Advisors LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 3.0% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 20,517 shares of the company’s stock after purchasing an additional 600 shares during the period. Summit Trail Advisors LLC’s holdings in Corteva were worth $1,206,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC raised its stake in shares of Corteva by 62.1% in the third quarter. Larson Financial Group LLC now owns 6,957 shares of the company’s stock worth $409,000 after buying an additional 2,665 shares during the period. Swedbank AB increased its holdings in Corteva by 18.0% in the 3rd quarter. Swedbank AB now owns 457,877 shares of the company’s stock worth $26,919,000 after acquiring an additional 69,782 shares in the last quarter. Kingsview Wealth Management LLC raised its stake in Corteva by 468.8% during the 3rd quarter. Kingsview Wealth Management LLC now owns 45,182 shares of the company’s stock worth $2,656,000 after acquiring an additional 37,239 shares during the period. Cerity Partners LLC lifted its holdings in Corteva by 28.0% during the third quarter. Cerity Partners LLC now owns 232,664 shares of the company’s stock valued at $13,678,000 after purchasing an additional 50,837 shares in the last quarter. Finally, Great Valley Advisor Group Inc. bought a new position in shares of Corteva in the third quarter worth approximately $203,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Up 0.8 %

Shares of NYSE CTVA opened at $61.23 on Monday. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50 day moving average is $58.69 and its two-hundred day moving average is $55.77. The stock has a market capitalization of $42.08 billion, a P/E ratio of 61.85, a PEG ratio of 1.97 and a beta of 0.77.

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

Corteva Announces Dividend

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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.11%. Corteva’s payout ratio is presently 68.69%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Bank of America raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. KeyCorp lifted their target price on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $64.33.

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.