AlphaMark Advisors LLC Reduces Holdings in Corteva, Inc. (NYSE:CTVA)

AlphaMark Advisors LLC reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 32.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,055 shares of the company’s stock after selling 1,913 shares during the period. AlphaMark Advisors LLC’s holdings in Corteva were worth $231,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in CTVA. KBC Group NV grew its stake in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after acquiring an additional 815,135 shares during the period. Oak Thistle LLC bought a new position in shares of Corteva in the fourth quarter worth approximately $1,514,000. Charles Schwab Investment Management Inc. increased its stake in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after purchasing an additional 66,052 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of Corteva by 755.8% during the 4th quarter. Assenagon Asset Management S.A. now owns 552,769 shares of the company’s stock valued at $31,486,000 after purchasing an additional 488,181 shares during the period. Finally, S.E.E.D. Planning Group LLC raised its position in shares of Corteva by 54.5% during the 4th quarter. S.E.E.D. Planning Group LLC now owns 96,103 shares of the company’s stock valued at $5,474,000 after purchasing an additional 33,886 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 0.4 %

Shares of NYSE CTVA opened at $63.96 on Friday. Corteva, Inc. has a 1-year low of $45.01 and a 1-year high of $64.32. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The business’s 50 day moving average is $59.56 and its two-hundred day moving average is $57.43. The stock has a market capitalization of $43.96 billion, a P/E ratio of 64.61, a PEG ratio of 1.63 and a beta of 0.77.

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

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.06%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CTVA shares. Wells Fargo & Company increased their price target on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Citigroup lowered their price target on Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday, December 18th. Barclays upped their price target on Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada lifted their price objective on shares of Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. One 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 company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $65.59.

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.