Albion Financial Group UT Acquires 321 Shares of Corteva, Inc. (NYSE:CTVA)

Albion Financial Group UT raised its holdings in shares of Corteva, Inc. (NYSE:CTVAFree Report) by 112.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 606 shares of the company’s stock after purchasing an additional 321 shares during the period. Albion Financial Group UT’s holdings in Corteva were worth $35,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Corteva during the third quarter valued at $99,869,000. Franklin Resources Inc. increased its stake in Corteva by 6.1% during the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after purchasing an additional 856,007 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Corteva by 370.6% in the second quarter. Bank of Montreal Can now owns 1,074,361 shares of the company’s stock worth $57,951,000 after buying an additional 846,065 shares in the last quarter. KBC Group NV grew its holdings in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the last quarter. Finally, State Street Corp increased its position in shares of Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after acquiring an additional 768,519 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE:CTVA opened at $62.52 on Thursday. The stock has a 50-day simple moving average of $59.15 and a two-hundred day simple moving average of $57.26. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a 52-week low of $44.91 and a 52-week high of $64.20. The firm has a market capitalization of $42.97 billion, a PE ratio of 63.15, a P/E/G ratio of 1.62 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently announced 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 1.09%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

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

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent analyst reports. Barclays increased their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Royal Bank of Canada lifted their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Bank of America lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average target price of $65.59.

Read Our Latest Stock Analysis on Corteva

Corteva Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

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