Corteva, Inc. (NYSE:CTVA) Stake Increased by Shelton Wealth Management LLC

Shelton Wealth Management LLC boosted its position in Corteva, Inc. (NYSE:CTVA) by 37.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 11,517 shares of the company’s stock after buying an additional 3,110 shares during the quarter. Shelton Wealth Management LLC’s holdings in Corteva were worth $656,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. State Street Corp increased its stake in Corteva by 2.3% during the third quarter. State Street Corp now owns 34,290,086 shares of the company’s stock valued at $2,015,914,000 after purchasing an additional 768,519 shares during the last quarter. Geode Capital Management LLC raised its stake in Corteva by 2.0% during the 3rd quarter. Geode Capital Management LLC now owns 17,703,771 shares of the company’s stock valued at $1,037,505,000 after acquiring an additional 355,206 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Corteva by 6.1% in the third quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock worth $860,746,000 after purchasing an additional 856,007 shares in the last quarter. Harris Associates L P grew its position in Corteva by 1.4% in the 3rd quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock valued at $844,360,000 after buying an additional 200,917 shares in the last quarter. Finally, FMR LLC raised its position in shares of Corteva by 1.9% during the 3rd quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after buying an additional 203,126 shares in the last quarter. Institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Royal Bank of Canada increased their price target on Corteva from $68.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Barclays upped 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. Citigroup decreased their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating for the company in a report on Wednesday, December 18th. KeyCorp decreased their target price on Corteva from $69.00 to $68.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, Wells Fargo & Company upped their target price on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.47.

Corteva Trading Up 1.1 %

Shares of CTVA opened at $62.30 on Friday. The stock’s fifty day simple moving average is $58.88 and its 200-day simple moving average is $56.99. The firm has a market capitalization of $42.82 billion, a PE ratio of 62.93, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. Corteva, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. 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 Announces Dividend

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

Corteva announced that its Board of Directors has approved a stock buyback program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are often 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.