First Hawaiian Bank Acquires 7,170 Shares of Corteva, Inc. (NYSE:CTVA)

First Hawaiian Bank lifted its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 83.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 15,737 shares of the company’s stock after acquiring an additional 7,170 shares during the quarter. First Hawaiian Bank’s holdings in Corteva were worth $896,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% during the 3rd 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 period. Redwood Wealth Management Group LLC bought a new stake in Corteva in the 2nd quarter valued at $43,000. Bangor Savings Bank boosted its stake in Corteva by 34.7% in the 3rd 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. Northwest Investment Counselors LLC bought a new stake in Corteva in the 3rd quarter valued at $56,000. Finally, Pinnacle Bancorp Inc. boosted its stake in Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Trading Down 0.2 %

NYSE CTVA opened at $57.04 on Friday. 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, Inc. has a twelve month low of $44.01 and a twelve month high of $64.20. The company has a market cap of $39.20 billion, a price-to-earnings ratio of 57.62, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. The business’s fifty day moving average is $58.88 and its 200 day moving average is $56.79.

Corteva announced that its board has authorized a stock buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Corteva Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 68.69%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CTVA shares. Citigroup reduced their price target on Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a research note on Wednesday, December 18th. Wells Fargo & Company boosted their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday, November 20th. KeyCorp dropped their price objective on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a report on Friday. UBS Group dropped their price objective on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday. Finally, Barclays lifted their price objective on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. One equities 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. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.47.

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.