Corteva, Inc. (NYSE:CTVA) Shares Bought by City Holding Co.

City Holding Co. lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 3.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,115 shares of the company’s stock after purchasing an additional 590 shares during the quarter. City Holding Co.’s holdings in Corteva were worth $918,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in CTVA. Capital Advisors Ltd. LLC grew its position in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the last quarter. First Financial Corp IN acquired a new position in shares of Corteva during the fourth quarter worth approximately $35,000. Bangor Savings Bank grew its holdings in Corteva by 34.7% in the 3rd quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after buying an additional 241 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in Corteva in the 3rd quarter valued at approximately $56,000. Finally, Pinnacle Bancorp Inc. raised its stake in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of several recent analyst reports. Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Royal Bank of Canada raised their target price on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Barclays upped their price target 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. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and a consensus target price of $65.47.

Corteva Price Performance

CTVA stock opened at $62.30 on Tuesday. The firm has a 50-day moving average of $58.96 and a two-hundred day moving average of $57.12. The firm has a market capitalization of $42.82 billion, a PE ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77. 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 one year low of $44.01 and a one year high of $64.20.

Corteva Announces Dividend

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

Corteva announced that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.