Corteva, Inc. (NYSE:CTVA) Shares Sold by Romano Brothers AND Company

Romano Brothers AND Company lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 17.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 3,817 shares of the company’s stock after selling 812 shares during the quarter. Romano Brothers AND Company’s holdings in Corteva were worth $217,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CTVA. Roble Belko & Company Inc boosted its stake in Corteva by 5.5% in the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares during the period. Rovin Capital UT ADV lifted its holdings in shares of Corteva by 1.3% in the third 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 in the last quarter. Capital Advisors Ltd. LLC boosted its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the period. Proffitt & Goodson Inc. grew its holdings in shares of Corteva by 2.2% during 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 in the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in Corteva by 26.1% during 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 period. 81.54% of the stock is owned by institutional investors.

Corteva Trading Up 1.1 %

NYSE:CTVA opened at $62.30 on Monday. The company’s 50 day moving average is $58.96 and its 200-day moving average is $57.09. 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 12 month low of $44.01 and a 12 month high of $64.20. The firm has a market cap of $42.82 billion, a price-to-earnings ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.17 dividend. The ex-dividend date was Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Corteva declared that its board has approved a share repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on CTVA. Bank of America lifted their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price objective on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Citigroup cut their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research report on Wednesday, December 18th. Barclays boosted their price target on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada increased their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.47.

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.