Romano Brothers AND Company Reduces Position in Corteva, Inc. (NYSE:CTVA)

Romano Brothers AND Company lowered its position in Corteva, Inc. (NYSE:CTVA) by 17.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Roble Belko & Company Inc lifted its position in shares of Corteva by 5.5% during the fourth quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock worth $180,000 after purchasing an additional 166 shares in the last quarter. Rovin Capital UT ADV increased its stake in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after buying an additional 168 shares during the period. Capital Advisors Ltd. LLC lifted its holdings 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 buying an additional 174 shares in the last quarter. Proffitt & Goodson Inc. grew its stake 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 acquiring an additional 174 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in shares of Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after acquiring an additional 199 shares during the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on CTVA. Barclays increased their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Bank of America increased their price objective 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. Wells Fargo & Company boosted their target price on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 20th. Finally, UBS Group reduced their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.

Corteva Price Performance

Shares of NYSE CTVA opened at $62.30 on Monday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. 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. Corteva, Inc. has a 1-year low of $44.01 and a 1-year high of $64.20. The business’s fifty day moving average price is $58.96 and its two-hundred day moving average price is $57.09.

Corteva announced that its Board of Directors has approved a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to reacquire up to 7.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Corteva Dividend Announcement

The company also recently disclosed 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 of this dividend was Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 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.