Windward Capital Management Co. CA Reduces Stake in Corteva, Inc. (NYSE:CTVA)

Windward Capital Management Co. CA lessened its stake in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 77,433 shares of the company’s stock after selling 634 shares during the quarter. Windward Capital Management Co. CA’s holdings in Corteva were worth $4,411,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Ninety One UK Ltd raised its position in shares of Corteva by 7.2% in the fourth quarter. Ninety One UK Ltd now owns 433,687 shares of the company’s stock worth $24,703,000 after buying an additional 29,091 shares in the last quarter. E. Ohman J or Asset Management AB bought a new position in Corteva in the 4th quarter worth about $1,168,000. Mather Group LLC. raised its holdings in shares of Corteva by 21.6% in the 4th quarter. Mather Group LLC. now owns 9,801 shares of the company’s stock valued at $558,000 after acquiring an additional 1,739 shares in the last quarter. Brown Lisle Cummings Inc. boosted its position in shares of Corteva by 159.6% during the 4th quarter. Brown Lisle Cummings Inc. now owns 732 shares of the company’s stock valued at $42,000 after acquiring an additional 450 shares during the last quarter. Finally, Financial Life Planners purchased a new position in shares of Corteva during the fourth quarter worth about $55,000. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CTVA shares. Bank of America raised their target price on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. KeyCorp cut their target price on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Royal Bank of Canada raised their price target on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Wells Fargo & Company raised their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a report on Tuesday, January 28th. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Corteva has a consensus rating of “Moderate Buy” and an average price target of $67.06.

Corteva Price Performance

Shares of Corteva stock opened at $65.79 on Wednesday. The company’s fifty day simple moving average is $60.15 and its two-hundred day simple moving average is $57.99. Corteva, Inc. has a 12-month low of $50.01 and a 12-month high of $66.24. The firm has a market cap of $45.21 billion, a PE ratio of 66.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.03%. Corteva’s payout ratio is presently 68.69%.

Corteva announced that its board has authorized a stock repurchase program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board 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.