CENTRAL TRUST Co Has $1.68 Million Position in Corteva, Inc. (NYSE:CTVA)

CENTRAL TRUST Co lowered its holdings in Corteva, Inc. (NYSE:CTVA) by 14.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 29,469 shares of the company’s stock after selling 5,063 shares during the quarter. CENTRAL TRUST Co’s holdings in Corteva were worth $1,679,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Capital Advisors Ltd. LLC grew its position in 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 purchasing an additional 174 shares during the period. First Financial Corp IN purchased a new position in Corteva during the 4th quarter worth $35,000. Albion Financial Group UT boosted its holdings in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after acquiring an additional 321 shares during the last quarter. Bangor Savings Bank boosted 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 acquiring an additional 241 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in Corteva during the 3rd quarter worth $56,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on CTVA. Royal Bank of Canada lifted their price objective on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Citigroup lifted their price objective on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. 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 report on Tuesday, January 28th. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Barclays increased their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $67.06.

Corteva Price Performance

NYSE CTVA opened at $64.57 on Tuesday. The company has a market cap of $44.37 billion, a PE ratio of 65.22, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm’s 50-day simple moving average is $60.14 and its two-hundred day simple moving average is $57.93.

Corteva announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s payout ratio is 68.69%.

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.