Premier Path Wealth Partners LLC Buys 692 Shares of Corteva, Inc. (NYSE:CTVA)

Premier Path Wealth Partners LLC grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 8.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,031 shares of the company’s stock after acquiring an additional 692 shares during the period. Premier Path Wealth Partners LLC’s holdings in Corteva were worth $514,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. State Street Corp raised its position in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Corteva by 2.0% during the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after buying an additional 355,206 shares during the period. Franklin Resources Inc. raised its holdings in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares in the last quarter. Harris Associates L P lifted its stake in Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after acquiring an additional 200,917 shares during the period. Finally, FMR LLC grew its holdings in Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after acquiring an additional 203,126 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CTVA. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Citigroup lowered their target price on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Wells Fargo & Company upped their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Finally, Barclays lifted their target price on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. One 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $65.47.

Corteva Stock Up 1.1 %

Shares of CTVA opened at $62.30 on Friday. The firm has a market cap of $42.82 billion, a P/E ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20. The stock’s 50 day moving average is $58.96 and its two-hundred day moving average is $57.06. 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 declared that its board has initiated a stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors 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 dividend on an annualized basis and a yield of 1.09%. Corteva’s dividend payout ratio is currently 68.69%.

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.