Summit Trail Advisors LLC Raises Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Summit Trail Advisors LLC boosted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.0% in the third quarter, Holdings Channel.com reports. The fund owned 20,517 shares of the company’s stock after acquiring an additional 600 shares during the quarter. Summit Trail Advisors LLC’s holdings in Corteva were worth $1,206,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Acadian Asset Management LLC purchased a new position in shares of Corteva during the first quarter worth approximately $25,000. Capital Advisors Ltd. LLC grew its stake in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Corteva during the 2nd quarter worth $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva during the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Corteva in the 2nd quarter worth $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Up 0.8 %

Corteva stock opened at $61.23 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $42.08 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77. The stock has a 50-day moving average of $58.69 and a two-hundred day moving average of $55.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75.

Corteva declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is currently 68.69%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America boosted their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. UBS Group increased their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $64.33.

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.