One Wealth Capital Management LLC Invests $266,000 in Corteva, Inc. (NYSE:CTVA)

One Wealth Capital Management LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 4,674 shares of the company’s stock, valued at approximately $266,000.

Other large investors have also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its stake in shares of 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 acquiring an additional 174 shares in the last quarter. Redwood Wealth Management Group LLC purchased a new position in Corteva in the second quarter valued at $43,000. Bangor Savings Bank grew its stake 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 purchasing an additional 241 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Corteva during the 3rd quarter worth about $56,000. Finally, Pinnacle Bancorp Inc. raised its position in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Performance

NYSE CTVA traded down $0.08 during trading on Tuesday, reaching $56.86. The company’s stock had a trading volume of 1,546,101 shares, compared to its average volume of 2,258,441. Corteva, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The firm has a market cap of $39.08 billion, a price-to-earnings ratio of 57.43, a P/E/G ratio of 1.94 and a beta of 0.77. The business’s fifty day moving average price is $59.20 and its 200-day moving average price is $56.73. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva announced that its Board of Directors has authorized a stock buyback program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to repurchase up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.20%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analysts Set New Price Targets

A number of research firms recently weighed in on CTVA. KeyCorp upped their target price on shares of Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Citigroup dropped their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. 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 research report on Thursday, December 19th. Bank of America boosted their target price on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company raised their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One 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’s stock. According to MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $65.41.

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.