11,940 Shares in Corteva, Inc. (NYSE:CTVA) Bought by Whalen Wealth Management Inc.

Whalen Wealth Management Inc. bought a new position in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,940 shares of the company’s stock, valued at approximately $680,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Advisors Ltd. LLC grew its stake 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 buying an additional 174 shares during the last quarter. First Financial Corp IN purchased a new position in Corteva in the 4th quarter worth approximately $35,000. Albion Financial Group UT lifted its position in Corteva by 112.6% in the fourth 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 last quarter. Bangor Savings Bank boosted its stake in shares of Corteva by 34.7% during 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 during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Corteva in the third quarter worth approximately $56,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the topic of a number of recent analyst reports. Citigroup decreased their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research report on Wednesday, December 18th. UBS Group reduced their price target on Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a report on Friday, January 10th. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America boosted their target price on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Wells Fargo & Company raised 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. One analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $65.59.

Corteva Stock Performance

Shares of CTVA opened at $62.52 on Thursday. The stock has a 50-day moving average of $59.25 and a two-hundred day moving average of $57.30. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market cap of $42.97 billion, a P/E ratio of 63.15, a P/E/G ratio of 1.64 and a beta of 0.77. Corteva, Inc. has a one year low of $44.91 and a one year high of $64.20.

Corteva Dividend Announcement

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

Corteva declared that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s management 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.