Community Bank of Raymore Acquires 1,119 Shares of Corteva, Inc. (NYSE:CTVA)

Community Bank of Raymore boosted its holdings in Corteva, Inc. (NYSE:CTVA) by 13.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,276 shares of the company’s stock after acquiring an additional 1,119 shares during the quarter. Community Bank of Raymore’s holdings in Corteva were worth $528,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Capital Advisors Ltd. LLC lifted its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. First Financial Corp IN bought a new position in Corteva during the 4th quarter valued at about $35,000. Bangor Savings Bank boosted its position in Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock valued at $55,000 after buying an additional 241 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in Corteva during the third quarter worth about $56,000. Finally, Pinnacle Bancorp Inc. increased its holdings 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 buying an additional 199 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on CTVA. Citigroup decreased their price target on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. Bank of America raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Royal Bank of Canada raised their price target on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Finally, Barclays upped their price objective on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.47.

Corteva Stock Performance

Shares of CTVA opened at $62.30 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12 month low of $44.01 and a 12 month high of $64.20. The firm has a fifty day simple moving average of $58.96 and a 200 day simple moving average of $57.09. The stock has a market capitalization of $42.82 billion, a price-to-earnings ratio of 62.93, a PEG ratio of 1.49 and a beta of 0.77.

Corteva Dividend Announcement

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

Corteva announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its stock is undervalued.

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.