Capital Investment Advisory Services LLC Trims Stock Position in Corteva, Inc. (NYSE:CTVA)

Capital Investment Advisory Services LLC trimmed its position in Corteva, Inc. (NYSE:CTVA) by 9.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,683 shares of the company’s stock after selling 499 shares during the quarter. Capital Investment Advisory Services LLC’s holdings in Corteva were worth $267,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Roble Belko & Company Inc grew its position in Corteva by 5.5% in the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after acquiring an additional 166 shares during the period. Rovin Capital UT ADV grew its holdings in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. Proffitt & Goodson Inc. raised its holdings in Corteva by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after buying an additional 174 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its position in Corteva by 26.1% in the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after buying an additional 199 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of a number of recent analyst reports. Bank of America lifted their price target on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. UBS Group cut their target price on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. Wells Fargo & Company raised their price target on Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup boosted their price objective on Corteva from $69.00 to $74.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Barclays raised their target price on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $66.24.

Corteva Stock Performance

Shares of Corteva stock opened at $65.26 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $45.46 and a 52 week high of $66.24. The firm’s 50 day moving average is $60.06 and its two-hundred day moving average is $57.80. The firm has a market capitalization of $44.85 billion, a P/E ratio of 65.92, a P/E/G ratio of 1.70 and a beta of 0.77.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a yield of 1.04%. Corteva’s dividend payout ratio is currently 68.69%.

Corteva declared that its board has initiated 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 usually a sign that the company’s board of directors believes its stock is undervalued.

About Corteva

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.