Corteva, Inc. (NYSE:CTVA) Shares Bought by Brooklyn Investment Group

Brooklyn Investment Group lifted its stake in Corteva, Inc. (NYSE:CTVA) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,744 shares of the company’s stock after purchasing an additional 248 shares during the quarter. Brooklyn Investment Group’s holdings in Corteva were worth $156,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Roble Belko & Company Inc grew its stake in Corteva by 5.5% during the 4th quarter. Roble Belko & Company Inc now owns 3,166 shares of the company’s stock valued at $180,000 after purchasing an additional 166 shares during the last quarter. Rovin Capital UT ADV boosted its position in Corteva by 1.3% in the third quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock valued at $754,000 after buying an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC increased 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 during the period. Proffitt & Goodson Inc. raised its position in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after buying an additional 174 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its stake in Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after acquiring an additional 199 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on CTVA. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Bank of America boosted their price objective on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company lifted their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research report on Wednesday, November 20th. Barclays upped their price objective on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a report on Friday, November 8th. 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. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.47.

Corteva Price Performance

Shares of Corteva stock opened at $62.30 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20. The stock has a market capitalization of $42.82 billion, a P/E ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77. The business has a 50 day simple moving average of $58.96 and a two-hundred day simple moving average of $57.06.

Corteva declared that its board has authorized a share repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. The ex-dividend date was Monday, December 2nd. Corteva’s payout ratio is 68.69%.

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.