Hancock Whitney Corp Sells 406 Shares of Corteva, Inc. (NYSE:CTVA)

Hancock Whitney Corp decreased its position in Corteva, Inc. (NYSE:CTVA) by 8.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,193 shares of the company’s stock after selling 406 shares during the quarter. Hancock Whitney Corp’s holdings in Corteva were worth $247,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of CTVA. Acadian Asset Management LLC purchased a new stake in Corteva in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC increased its stake in Corteva by 44.4% during 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 during the last quarter. Cultivar Capital Inc. purchased a new stake in Corteva during the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva in the 2nd quarter worth about $43,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Corteva during the 2nd quarter worth about $45,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on CTVA shares. Citigroup began coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Barclays boosted their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, UBS Group lifted their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.06.

Corteva Stock Down 1.2 %

Shares of CTVA stock opened at $62.49 on Thursday. The stock’s fifty day moving average price is $59.07 and its 200 day moving average price is $55.90. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $64.20. The company has a market cap of $42.95 billion, a price-to-earnings ratio of 63.12, a price-to-earnings-growth ratio of 2.08 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

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

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.