S.E.E.D. Planning Group LLC Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

S.E.E.D. Planning Group LLC lifted its stake in Corteva, Inc. (NYSE:CTVA) by 54.5% during the 4th quarter, Holdings Channel reports. The institutional investor owned 96,103 shares of the company’s stock after buying an additional 33,886 shares during the period. Corteva makes up approximately 1.8% of S.E.E.D. Planning Group LLC’s portfolio, making the stock its 20th biggest holding. S.E.E.D. Planning Group LLC’s holdings in Corteva were worth $5,474,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Advisors Ltd. LLC raised its stake in shares of Corteva by 44.4% during the third 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 bought a new position in Corteva during the 4th quarter valued at approximately $35,000. Bangor Savings Bank lifted 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. Northwest Investment Counselors LLC purchased a new position in shares of Corteva during the third quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. UBS Group cut their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Oppenheimer reiterated an “outperform” rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Citigroup lowered their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. KeyCorp cut their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Finally, Barclays increased their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. One equities 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, Corteva has a consensus rating of “Moderate Buy” and an average target price of $65.47.

Corteva Price Performance

Shares of CTVA opened at $60.79 on Wednesday. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The company has a market capitalization of $41.78 billion, a P/E ratio of 61.40, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. The firm has a 50 day moving average of $58.83 and a 200 day moving average of $56.93. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva announced that its board has approved a stock repurchase plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are usually 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 was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s payout ratio is 68.69%.

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.