Tradewinds LLC. Acquires 1,168 Shares of Corteva, Inc. (NYSE:CTVA)

Tradewinds LLC. boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 23.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,203 shares of the company’s stock after buying an additional 1,168 shares during the period. Tradewinds LLC.’s holdings in Corteva were worth $365,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of CTVA. Rovin Capital UT ADV lifted its stake in shares of Corteva by 1.3% in the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after purchasing an additional 168 shares during the period. Capital Advisors Ltd. LLC increased its holdings in Corteva by 44.4% in the third 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 last quarter. Proffitt & Goodson Inc. lifted its stake in Corteva by 2.2% in the third 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. Pinnacle Bancorp Inc. boosted its holdings in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares during the last quarter. Finally, Azzad Asset Management Inc. ADV grew its position in shares of Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after buying an additional 203 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Up 0.9 %

Corteva stock opened at $58.77 on Thursday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. The company has a fifty day simple moving average of $58.49 and a 200 day simple moving average of $55.72. The company has a market cap of $40.39 billion, a P/E ratio of 59.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Corteva declared that its Board of Directors has approved 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. Wells Fargo & Company lifted their price target on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup initiated coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective for the company. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $64.26.

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.