Cullinan Associates Inc. Sells 10,600 Shares of Corteva, Inc. (NYSE:CTVA)

Cullinan Associates Inc. lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 59.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,159 shares of the company’s stock after selling 10,600 shares during the period. Cullinan Associates Inc.’s holdings in Corteva were worth $408,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in CTVA. Capital Advisors Ltd. LLC boosted its holdings in 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 purchasing an additional 174 shares during the last quarter. First Financial Corp IN purchased a new stake in Corteva in the fourth quarter worth approximately $35,000. Albion Financial Group UT boosted its holdings in Corteva by 112.6% in the fourth quarter. Albion Financial Group UT now owns 606 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares during the last quarter. Bangor Savings Bank boosted its holdings in Corteva by 34.7% in the third quarter. Bangor Savings Bank now owns 935 shares of the company’s stock worth $55,000 after purchasing an additional 241 shares during the last quarter. Finally, Heck Capital Advisors LLC purchased a new stake in Corteva in the fourth quarter worth approximately $55,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Up 1.8 %

CTVA opened at $65.79 on Wednesday. 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 $45.21 billion, a price-to-earnings ratio of 66.45, a price-to-earnings-growth ratio of 1.71 and a beta of 0.78. The firm’s fifty day moving average is $60.15 and its 200 day moving average is $57.99. Corteva, Inc. has a fifty-two week low of $50.01 and a fifty-two week high of $66.24.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.17 dividend. The ex-dividend date is Monday, March 3rd. This represents a $0.68 dividend on an annualized basis and a yield of 1.03%. Corteva’s dividend payout ratio is currently 68.69%.

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

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CTVA. Citigroup raised their target price on shares of Corteva from $69.00 to $74.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Wells Fargo & Company lifted their price target on shares of Corteva from $67.00 to $73.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 28th. KeyCorp dropped their price target on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Barclays lifted their price target on shares of Corteva from $62.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Tuesday, January 21st. Finally, UBS Group dropped their price target on shares of Corteva from $74.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, January 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.06.

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.