Hilltop National Bank Has $81,000 Stock Position in Corteva, Inc. (NYSE:CTVA)

Hilltop National Bank decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 57.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,429 shares of the company’s stock after selling 1,945 shares during the quarter. Hilltop National Bank’s holdings in Corteva were worth $81,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in CTVA. State Street Corp raised its stake in Corteva by 2.3% in the 3rd 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 during the period. Geode Capital Management LLC raised its stake in Corteva by 2.0% in the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after acquiring an additional 355,206 shares during the period. Franklin Resources Inc. raised its stake in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the period. Harris Associates L P raised its stake in Corteva by 1.4% in the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after acquiring an additional 200,917 shares during the period. Finally, FMR LLC raised its stake in Corteva by 1.9% in the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock valued at $631,863,000 after acquiring an additional 203,126 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $57.04 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $39.20 billion, a PE ratio of 57.62, a P/E/G ratio of 1.94 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 stock has a 50-day moving average price of $58.88 and a two-hundred day moving average price of $56.79.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were given a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.19%. Corteva’s dividend payout ratio is presently 68.69%.

Corteva declared that its board has approved a stock repurchase plan 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 plans are usually a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

CTVA has been the topic of a number of research reports. Royal Bank of Canada upped their price objective on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. KeyCorp decreased their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday. Oppenheimer reissued an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America increased their target price on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Finally, Wells Fargo & Company increased their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. One 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $65.47.

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.