Affinity Wealth Management LLC Trims Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Affinity Wealth Management LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 8.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 5,281 shares of the company’s stock after selling 501 shares during the quarter. Affinity Wealth Management LLC’s holdings in Corteva were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in CTVA. Capital Advisors Ltd. LLC raised its stake in 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 during the period. First Financial Corp IN purchased a new stake in shares of Corteva in the fourth quarter worth $35,000. Albion Financial Group UT raised its position in shares of Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Bangor Savings Bank boosted its holdings in 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 during the period. Finally, Northwest Investment Counselors LLC purchased a new stake in Corteva in the 3rd quarter worth $56,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently weighed in on CTVA. Bank of America upped their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. KeyCorp cut their price objective on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Citigroup dropped their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, UBS Group dropped their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $65.59.

Corteva Trading Down 0.4 %

Shares of CTVA opened at $63.96 on Friday. Corteva, Inc. has a twelve month low of $45.01 and a twelve month high of $64.32. 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 company’s fifty day simple moving average is $59.56 and its 200-day simple moving average is $57.43. The company has a market cap of $43.96 billion, a P/E ratio of 64.61, a P/E/G ratio of 1.63 and a beta of 0.77.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva declared that its board has initiated a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

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.