3,766 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Legacy Financial Group LLC

Legacy Financial Group LLC purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 3,766 shares of the company’s stock, valued at approximately $215,000.

Other institutional investors have also added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in shares of Corteva by 69.7% in the 2nd quarter. Public Sector Pension Investment Board now owns 26,502 shares of the company’s stock valued at $1,430,000 after acquiring an additional 10,887 shares during the period. AXA S.A. raised its stake in Corteva by 19.9% in the 2nd quarter. AXA S.A. now owns 154,197 shares of the company’s stock worth $8,317,000 after acquiring an additional 25,645 shares during the last quarter. APG Asset Management N.V. raised its stake in Corteva by 195.5% in the 2nd quarter. APG Asset Management N.V. now owns 84,800 shares of the company’s stock worth $4,268,000 after acquiring an additional 56,100 shares during the last quarter. MBB Public Markets I LLC purchased a new position in Corteva in the 2nd quarter worth $2,767,000. Finally, Mackenzie Financial Corp raised its stake in Corteva by 0.4% in the 2nd quarter. Mackenzie Financial Corp now owns 483,670 shares of the company’s stock worth $26,089,000 after acquiring an additional 1,748 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Down 0.4 %

CTVA stock opened at $63.96 on Monday. 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, Inc. has a 12-month low of $45.01 and a 12-month high of $64.32. 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 business’s 50-day moving average is $59.56 and its 200 day moving average is $57.48.

Corteva declared that its board has authorized a share buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

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

Analysts Set New Price Targets

CTVA has been the subject of a number of research analyst reports. Wells Fargo & Company raised their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. UBS Group reduced their target price on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a research note on Friday, January 10th. Royal Bank of Canada lifted 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. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, KeyCorp reduced their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research note on Friday, January 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $65.59.

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.