Corteva, Inc. (NYSE:CTVA) Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 140,000 shares of the company’s stock after selling 1,900 shares during the period. Forsta AP Fonden’s holdings in Corteva were worth $7,974,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in CTVA. Capital Advisors Ltd. LLC lifted its position in shares of 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 during the last quarter. First Financial Corp IN acquired a new position in shares of Corteva in the 4th quarter valued at $35,000. Albion Financial Group UT increased its stake in Corteva by 112.6% in the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Bangor Savings Bank raised its holdings in Corteva by 34.7% during 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 during the third quarter valued at about $56,000. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Up 1.8 %

CTVA stock opened at $66.15 on Friday. The firm has a market cap of $45.46 billion, a PE ratio of 66.81, a PEG ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a 1 year low of $45.46 and a 1 year high of $66.24. The company has a fifty day simple moving average of $59.96 and a 200 day simple moving average of $57.74. 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 of Directors has authorized a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.03%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CTVA shares. UBS Group dropped their target price on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company lifted their price objective on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Citigroup lifted their price target on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. 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 stock. According to data from MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $66.24.

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.