Goodman Advisory Group LLC Trims Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Goodman Advisory Group LLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 14.0% in the third quarter, HoldingsChannel reports. The firm owned 5,745 shares of the company’s stock after selling 935 shares during the quarter. Goodman Advisory Group LLC’s holdings in Corteva were worth $338,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares during the period. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the 2nd quarter worth about $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at about $43,000. Triad Wealth Partners LLC acquired a new position in Corteva in the 2nd quarter worth about $45,000. Finally, Bangor Savings Bank boosted its position in Corteva by 34.7% during the third 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. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several research analyst reports. Wells Fargo & Company lifted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. Barclays boosted their price target on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. UBS Group upped their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, KeyCorp increased their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $65.06.

Corteva Stock Up 0.4 %

Shares of NYSE:CTVA opened at $59.74 on Tuesday. The firm’s 50-day moving average is $59.58 and its two-hundred day moving average is $56.15. 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 $44.01 and a 1 year high of $64.20. The firm has a market capitalization of $41.06 billion, a PE ratio of 60.34, a price-to-earnings-growth ratio of 1.93 and a beta of 0.77.

Corteva declared that its board has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is 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 given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

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.