Corteva, Inc. (NYSE:CTVA) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 18.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 13,099 shares of the company’s stock after buying an additional 2,070 shares during the period. GAMMA Investing LLC’s holdings in Corteva were worth $746,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Capital Advisors Ltd. LLC boosted its stake in 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 in the last quarter. Redwood Wealth Management Group LLC bought a new position in shares of Corteva during the 2nd quarter valued at about $43,000. Bangor Savings Bank grew its stake in shares of Corteva by 34.7% in the 3rd 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. Northwest Investment Counselors LLC bought a new stake in shares of Corteva in the 3rd quarter worth approximately $56,000. Finally, Pinnacle Bancorp Inc. boosted its holdings in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after buying an additional 199 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of several research reports. Wells Fargo & Company raised their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 20th. Royal Bank of Canada lifted their price target on Corteva from $68.00 to $73.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Barclays lifted their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, UBS Group upped their price target on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. 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’s stock. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and an average price target of $65.41.

Corteva Price Performance

NYSE CTVA opened at $55.94 on Friday. The company has a 50 day moving average price of $59.28 and a two-hundred day moving average price of $56.63. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. The stock has a market capitalization of $38.45 billion, a PE ratio of 56.51, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.22%. The ex-dividend date of this dividend was Monday, December 2nd. Corteva’s dividend payout ratio is presently 68.69%.

Corteva announced that its Board of Directors has authorized 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 buy up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

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.