Community Bank of Raymore Has $528,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Community Bank of Raymore boosted its position in Corteva, Inc. (NYSE:CTVA) by 13.7% in the 4th quarter, HoldingsChannel reports. The firm owned 9,276 shares of the company’s stock after acquiring an additional 1,119 shares during the period. Community Bank of Raymore’s holdings in Corteva were worth $528,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp increased its holdings in shares of Corteva by 2.3% in 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 grew its stake in Corteva by 2.0% in 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 buying an additional 355,206 shares during the last quarter. Franklin Resources Inc. raised its holdings in Corteva by 6.1% in the 3rd quarter. Franklin Resources Inc. now owns 14,788,607 shares of the company’s stock valued at $860,746,000 after acquiring an additional 856,007 shares during the period. Harris Associates L P boosted its holdings in shares of Corteva by 1.4% during the third quarter. Harris Associates L P now owns 14,362,309 shares of the company’s stock worth $844,360,000 after acquiring an additional 200,917 shares during the period. Finally, FMR LLC boosted its holdings in shares of Corteva by 1.9% during the third quarter. FMR LLC now owns 10,747,791 shares of the company’s stock worth $631,863,000 after acquiring an additional 203,126 shares during the period. Institutional investors own 81.54% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. UBS Group dropped their price target on Corteva from $74.00 to $73.00 and set a “buy” rating for the company in a report on Friday, January 10th. Barclays lifted their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Oppenheimer restated an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Finally, KeyCorp decreased their target price on shares of Corteva from $69.00 to $68.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $65.47.

Corteva Stock Performance

Corteva stock opened at $62.30 on Monday. The stock has a market cap of $42.82 billion, a PE ratio of 62.93, a P/E/G ratio of 1.49 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, Inc. has a 12-month low of $44.01 and a 12-month high of $64.20. The business’s 50-day moving average price is $58.96 and its two-hundred day moving average price is $57.09.

Corteva Dividend Announcement

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

Corteva announced that its board has authorized a share repurchase program on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in outstanding shares. This buyback authorization authorizes the company to buy up to 7.5% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is 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.