Americana Partners LLC Invests $4.19 Million in Corteva, Inc. (NYSE:CTVA)

Americana Partners LLC bought a new position in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 73,568 shares of the company’s stock, valued at approximately $4,190,000.

A number of other institutional investors have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Corteva by 2.3% in the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock worth $2,015,914,000 after acquiring an additional 768,519 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Corteva by 2.0% in the third quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock worth $1,037,505,000 after acquiring an additional 355,206 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after acquiring an additional 856,007 shares during the last quarter. Harris Associates L P grew its stake in shares of Corteva by 1.4% in the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after acquiring an additional 200,917 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Corteva by 1.9% in the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after acquiring an additional 203,126 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

CTVA has been the topic of several recent analyst reports. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research report on Friday, January 10th. KeyCorp increased their price objective on Corteva from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Barclays increased their price objective on Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company increased their price objective on Corteva from $67.00 to $73.00 and gave the company an “overweight” rating in a research report on Tuesday, January 28th. Finally, Bank of America increased their price objective on Corteva from $69.00 to $73.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $67.73.

Corteva Stock Up 1.8 %

NYSE CTVA opened at $64.00 on Monday. The stock’s 50-day moving average price is $60.39 and its 200-day moving average price is $58.49. The company has a quick ratio of 0.96, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $50.01 and a 52 week high of $66.24. The company has a market capitalization of $43.99 billion, a P/E ratio of 49.61, a price-to-earnings-growth ratio of 1.85 and a beta of 0.78.

Corteva (NYSE:CTVA) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.34 by ($0.02). Corteva had a return on equity of 7.19% and a net margin of 5.36%. On average, equities research analysts predict that Corteva, Inc. will post 2.83 earnings per share for the current year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, March 3rd. Corteva’s dividend payout ratio (DPR) is currently 52.71%.

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