Corteva, Inc. (NYSE:CTVA) Stock Holdings Lowered by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 22.0% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,886 shares of the company’s stock after selling 2,787 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Corteva were worth $563,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in CTVA. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. First Financial Corp IN purchased a new position in Corteva during the 4th quarter worth approximately $35,000. Albion Financial Group UT raised its stake in Corteva by 112.6% during the 4th quarter. Albion Financial Group UT now owns 606 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the period. Bangor Savings Bank lifted its holdings in shares of 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 purchasing an additional 241 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Corteva in the third quarter worth $56,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $65.06 on Thursday. The stock has a 50-day simple moving average of $59.83 and a 200 day simple moving average of $57.69. Corteva, Inc. has a twelve month low of $45.46 and a twelve month high of $65.44. The stock has a market capitalization of $44.72 billion, a PE ratio of 65.72, a P/E/G ratio of 1.63 and a beta of 0.77. 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 stock buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.68 annualized dividend and a dividend yield of 1.05%. Corteva’s dividend payout ratio is 68.69%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CTVA shares. Royal Bank of Canada increased their price objective on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Citigroup raised their price target on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Barclays boosted their price target on shares of Corteva from $62.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, KeyCorp cut their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, January 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $66.24.

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.