Courier Capital LLC Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

Courier Capital LLC reduced its position in Corteva, Inc. (NYSE:CTVA) by 24.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 9,326 shares of the company’s stock after selling 2,967 shares during the period. Courier Capital LLC’s holdings in Corteva were worth $531,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CTVA. Capital Advisors Ltd. LLC boosted its holdings in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the last quarter. Redwood Wealth Management Group LLC acquired a new position in shares of Corteva in the 2nd quarter valued at approximately $43,000. Bangor Savings Bank boosted its stake in shares of Corteva by 34.7% during the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Corteva during the third quarter worth approximately $56,000. Finally, Pinnacle Bancorp Inc. increased its stake in shares of Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Corteva Price Performance

NYSE CTVA opened at $59.95 on Tuesday. The company has a 50-day moving average price of $58.85 and a two-hundred day moving average price of $56.88. Corteva, Inc. has a 52 week low of $44.01 and a 52 week high of $64.20. The stock has a market cap of $41.20 billion, a price-to-earnings ratio of 60.56, a price-to-earnings-growth ratio of 1.93 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.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.13%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

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