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

City Holding Co. grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & 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 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its position in shares of Corteva by 3.8% in the second quarter. American Century Companies Inc. now owns 117,070 shares of the company’s stock worth $6,315,000 after acquiring an additional 4,255 shares during the last quarter. Federated Hermes Inc. boosted its holdings in shares of Corteva by 20.0% in the 2nd quarter. Federated Hermes Inc. now owns 14,350 shares of the company’s stock valued at $774,000 after purchasing an additional 2,392 shares during the last quarter. Bridges Investment Management Inc. purchased a new stake in shares of Corteva during the 2nd quarter valued at $252,000. AE Wealth Management LLC increased its holdings in shares of Corteva by 6.2% during the 2nd quarter. AE Wealth Management LLC now owns 9,138 shares of the company’s stock worth $493,000 after buying an additional 534 shares during the last quarter. Finally, ProShare Advisors LLC boosted its holdings in Corteva by 13.5% in the second quarter. ProShare Advisors LLC now owns 125,770 shares of the company’s stock valued at $6,784,000 after acquiring an additional 14,968 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Oppenheimer restated 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. Citigroup dropped 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 lifted their price target on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Bank of America increased their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research report on Wednesday, November 20th. Finally, KeyCorp reduced their target price on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.

Corteva Stock Up 1.1 %

Shares of Corteva stock opened at $62.30 on Tuesday. The firm has a market cap of $42.82 billion, a P/E ratio of 62.93, a P/E/G ratio of 1.49 and a beta of 0.77. The business has a 50-day moving average price of $58.96 and a 200 day moving average price of $57.12. 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 fifty-two week low of $44.01 and a fifty-two week 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.09%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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