MidWestOne Financial Group Inc. Sells 219 Shares of Corteva, Inc. (NYSE:CTVA)

MidWestOne Financial Group Inc. reduced its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 14,846 shares of the company’s stock after selling 219 shares during the quarter. MidWestOne Financial Group Inc.’s holdings in Corteva were worth $873,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Capital Advisors Ltd. LLC boosted its holdings 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. Cultivar Capital Inc. bought a new stake in Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva in the 2nd quarter valued at $43,000. Triad Wealth Partners LLC bought a new stake in Corteva in the 2nd quarter valued at $45,000. Finally, Chilton Capital Management LLC boosted its holdings in Corteva by 354.7% in 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 during the period. 81.54% of the stock is owned by institutional investors.

Corteva Trading Down 0.5 %

Shares of Corteva stock opened at $59.44 on Wednesday. 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 stock has a market capitalization of $40.85 billion, a P/E ratio of 60.04, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. The company has a 50-day simple moving average of $59.58 and a 200 day simple moving average of $56.15.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is presently 68.69%.

Corteva announced that its board has authorized a stock repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. 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. Citigroup initiated coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. KeyCorp raised their price objective on shares of Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. UBS Group raised their price objective on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Bank of America raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. One equities 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 stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.06.

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.