Corteva, Inc. (NYSE:CTVA) Shares Sold by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC cut its stake in Corteva, Inc. (NYSE:CTVA) by 7.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,894 shares of the company’s stock after selling 299 shares during the period. Bartlett & CO. Wealth Management LLC’s holdings in Corteva were worth $222,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in CTVA. Lake Hills Wealth Management LLC bought a new stake in Corteva during the fourth quarter valued at $417,000. Albion Financial Group UT grew its position in shares of Corteva by 112.6% during the fourth 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. Advisory Alpha LLC grew its position in shares of Corteva by 7.3% during the fourth quarter. Advisory Alpha LLC now owns 4,623 shares of the company’s stock worth $263,000 after acquiring an additional 315 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of Corteva by 10.8% during the fourth quarter. Nisa Investment Advisors LLC now owns 243,820 shares of the company’s stock worth $13,888,000 after acquiring an additional 23,686 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new position in Corteva in the 4th quarter valued at about $373,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

CTVA has been the subject of a number of research analyst reports. 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. KeyCorp cut their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Royal Bank of Canada upped their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Citigroup cut their price target on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. Finally, Wells Fargo & Company upped their price objective on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. One equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $65.59.

Corteva Price Performance

NYSE CTVA opened at $63.96 on Friday. The company has a 50 day simple moving average of $59.39 and a 200-day simple moving average of $57.35. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The firm has a market capitalization of $43.96 billion, a price-to-earnings ratio of 64.61, a price-to-earnings-growth ratio of 1.63 and a beta of 0.77. Corteva, Inc. has a 52-week low of $45.01 and a 52-week high of $64.32.

Corteva declared that its board has approved 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 buy up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) 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.