M&T Bank Corp Has $122.11 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

M&T Bank Corp increased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 2,077,000 shares of the company’s stock after acquiring an additional 16,087 shares during the period. M&T Bank Corp’s holdings in Corteva were worth $122,107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Capital Advisors Ltd. LLC boosted its holdings 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 purchasing an additional 174 shares in the last quarter. Redwood Wealth Management Group LLC acquired a new stake in Corteva in the 2nd quarter valued at $43,000. Chilton Capital Management LLC lifted its holdings in shares of Corteva by 354.7% during the second quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock valued at $52,000 after acquiring an additional 759 shares during the period. Bangor Savings Bank grew its holdings 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. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Corteva during the 3rd quarter worth about $56,000. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

CTVA stock opened at $57.48 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 business’s fifty day moving average is $59.75 and its 200-day moving average is $56.33. The company has a market cap of $39.51 billion, a P/E ratio of 58.06, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77.

Corteva declared that its Board of Directors has initiated a stock repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.18%. Corteva’s payout ratio is currently 68.69%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Wells Fargo & Company raised their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Barclays increased 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. KeyCorp lifted their price target on Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Finally, Citigroup decreased their price objective on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $65.41.

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.