Brown Lisle Cummings Inc. Has $42,000 Position in Corteva, Inc. (NYSE:CTVA)

Brown Lisle Cummings Inc. grew its position in Corteva, Inc. (NYSE:CTVA) by 159.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 732 shares of the company’s stock after acquiring an additional 450 shares during the period. Brown Lisle Cummings Inc.’s holdings in Corteva were worth $42,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp lifted its holdings in Corteva by 2.3% during the 3rd quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC increased its position in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after buying an additional 355,206 shares during the period. Franklin Resources Inc. lifted its holdings in shares of Corteva by 6.1% during the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after buying an additional 856,007 shares in the last quarter. Harris Associates L P boosted its position in shares of Corteva by 1.4% in the third 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 grew its stake in shares of Corteva by 1.9% in the third 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 in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Up 1.8 %

Shares of NYSE:CTVA opened at $65.79 on Wednesday. Corteva, Inc. has a 52-week low of $50.01 and a 52-week high of $66.24. The company has a market capitalization of $45.21 billion, a PE ratio of 66.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. 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 company has a fifty day moving average of $60.15 and a 200-day moving average of $57.99.

Corteva announced that its board has authorized a stock buyback program on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. Corteva’s payout ratio is presently 68.69%.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. 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. Barclays boosted their price target on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada increased their price objective on shares of Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $67.06.

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.