3,424 Shares in Corteva, Inc. (NYSE:CTVA) Acquired by IHT Wealth Management LLC

IHT Wealth Management LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) in the 3rd quarter, Holdings Channel.com reports. The fund bought 3,424 shares of the company’s stock, valued at approximately $201,000.

Several other hedge funds also recently bought and sold shares of the company. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the period. Cultivar Capital Inc. acquired a new position in Corteva in the second quarter valued at about $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva in the second quarter worth about $43,000. Triad Wealth Partners LLC acquired a new stake in shares of Corteva during the second quarter worth about $45,000. Finally, Chilton Capital Management LLC lifted its holdings in shares of Corteva by 354.7% during the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock valued at $52,000 after purchasing an additional 759 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on CTVA shares. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Wells Fargo & Company raised their price objective on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Royal Bank of Canada reduced their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research note on Monday, November 11th. UBS Group lifted their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, KeyCorp upped their price objective on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.06.

Corteva Trading Down 0.5 %

Shares of NYSE:CTVA opened at $59.44 on Wednesday. Corteva, Inc. has a 52-week low of $44.01 and a 52-week high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $40.85 billion, a P/E ratio of 60.02, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The company has a 50-day simple moving average of $59.58 and a 200 day simple moving average of $56.15.

Corteva announced that its Board of Directors has initiated a stock repurchase 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 shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. 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.