Corteva, Inc. (NYSE:CTVA) Shares Acquired by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 2.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,931 shares of the company’s stock after acquiring an additional 350 shares during the period. Coldstream Capital Management Inc.’s holdings in Corteva were worth $759,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Capital Advisors Ltd. LLC grew its holdings in shares of Corteva by 44.4% during 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 period. Cultivar Capital Inc. purchased a new position in Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth about $43,000. Triad Wealth Partners LLC acquired a new stake in shares of Corteva during the second quarter valued at about $45,000. Finally, Chilton Capital Management LLC lifted its holdings in shares of Corteva by 354.7% in the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock worth $52,000 after acquiring an additional 759 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Royal Bank of Canada decreased their price target on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. UBS Group raised their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup assumed coverage on shares of Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Barclays lifted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. One research 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $65.06.

Corteva Price Performance

Shares of NYSE CTVA opened at $59.49 on Friday. The stock’s 50-day simple moving average is $59.68 and its 200-day simple moving average is $56.25. The firm has a market capitalization of $40.89 billion, a PE ratio of 60.09, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a fifty-two week low of $44.01 and a fifty-two week high of $64.20. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva declared that its board has approved a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.14%. Corteva’s dividend payout ratio is presently 68.69%.

Corteva Company 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.