Corteva, Inc. (NYSE:CTVA) Shares Sold by Secure Asset Management LLC

Secure Asset Management LLC trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 13.2% in the fourth quarter, HoldingsChannel reports. The firm owned 3,677 shares of the company’s stock after selling 558 shares during the period. Secure Asset Management LLC’s holdings in Corteva were worth $209,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Roble Belko & Company Inc boosted its position in shares of Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after buying an additional 166 shares during the period. Rovin Capital UT ADV increased its position in Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after acquiring an additional 168 shares during the period. 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 valued at $33,000 after acquiring an additional 174 shares in the last quarter. Proffitt & Goodson Inc. boosted its position in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares during the period. Finally, Pinnacle Bancorp Inc. grew 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 purchasing an additional 199 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. UBS Group cut their price objective on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. Wells Fargo & Company boosted their price target on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Barclays increased their price objective on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. KeyCorp dropped their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $65.59.

Corteva Stock Performance

Shares of CTVA opened at $63.96 on Friday. The company has a 50-day moving average of $59.56 and a two-hundred day moving average of $57.43. The stock has a market cap of $43.96 billion, a price-to-earnings ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a one year low of $45.01 and a one year high of $64.32.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

Corteva announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are 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.