Banque Cantonale Vaudoise Raises Holdings in Corteva, Inc. (NYSE:CTVA)

Banque Cantonale Vaudoise raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 234.1% during the 3rd quarter, Holdings Channel reports. The fund owned 19,952 shares of the company’s stock after purchasing an additional 13,981 shares during the period. Banque Cantonale Vaudoise’s holdings in Corteva were worth $1,173,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. Fifth Third Wealth Advisors LLC lifted its stake in shares of Corteva by 13.1% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 10,101 shares of the company’s stock worth $594,000 after purchasing an additional 1,172 shares during the last quarter. Prospera Financial Services Inc raised its holdings in Corteva by 3.5% in the third quarter. Prospera Financial Services Inc now owns 6,687 shares of the company’s stock worth $393,000 after purchasing an additional 226 shares in the last quarter. Pathstone Holdings LLC lifted its position in shares of Corteva by 3.0% during the third quarter. Pathstone Holdings LLC now owns 98,919 shares of the company’s stock valued at $5,815,000 after buying an additional 2,846 shares during the last quarter. Strengthening Families & Communities LLC boosted its holdings in shares of Corteva by 8.5% in the 3rd quarter. Strengthening Families & Communities LLC now owns 42,983 shares of the company’s stock valued at $2,527,000 after buying an additional 3,364 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Corteva in the 3rd quarter worth approximately $587,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the subject of a number of analyst reports. Wells Fargo & Company raised their target price on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. UBS Group upped their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. Finally, JPMorgan Chase & Co. cut their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $63.89.

Corteva Trading Up 0.9 %

NYSE CTVA opened at $58.77 on Thursday. The company has a fifty day moving average of $58.49 and a 200 day moving average of $55.72. The company has a market capitalization of $40.39 billion, a PE ratio of 59.36, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75.

Corteva declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.16%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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.