Brighton Jones LLC Has $888,000 Stake in Corteva, Inc. (NYSE:CTVA)

Brighton Jones LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 307.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,588 shares of the company’s stock after acquiring an additional 11,760 shares during the quarter. Brighton Jones LLC’s holdings in Corteva were worth $888,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CTVA. 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 worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Corteva during the fourth quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. grew its stake in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock valued at $265,966,000 after purchasing an additional 66,052 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Corteva by 755.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock worth $31,486,000 after purchasing an additional 488,181 shares during the last quarter. Finally, S.E.E.D. Planning Group LLC lifted its holdings in Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock worth $5,474,000 after buying an additional 33,886 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $63.96 on Friday. The business’s fifty day moving average price is $59.56 and its 200-day moving average price is $57.43. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $43.96 billion, a price-to-earnings ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a 1-year low of $45.01 and a 1-year high of $64.32.

Corteva declared that its board has approved a stock buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.06%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on CTVA shares. Barclays boosted their target price on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 21st. Bank of America raised their target price on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada boosted their price target on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Wells Fargo & Company lifted their target price on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Finally, UBS Group cut their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. 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 MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus 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.