Cornercap Investment Counsel Inc. Purchases New Holdings in Corteva, Inc. (NYSE:CTVA)

Cornercap Investment Counsel Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 13,747 shares of the company’s stock, valued at approximately $808,000.

A number of other large investors also recently bought and sold shares of the company. First Business Financial Services Inc. lifted its holdings in shares of Corteva by 9.1% in the 3rd quarter. First Business Financial Services Inc. now owns 40,350 shares of the company’s stock worth $2,372,000 after purchasing an additional 3,379 shares during the last quarter. Dearborn Partners LLC lifted its holdings in shares of Corteva by 47.8% in the 3rd quarter. Dearborn Partners LLC now owns 10,034 shares of the company’s stock worth $590,000 after purchasing an additional 3,247 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in shares of Corteva by 9.1% in the 3rd quarter. CIBC Asset Management Inc now owns 106,979 shares of the company’s stock worth $6,289,000 after purchasing an additional 8,912 shares during the last quarter. Metis Global Partners LLC lifted its holdings in shares of Corteva by 20.5% in the 3rd quarter. Metis Global Partners LLC now owns 63,050 shares of the company’s stock worth $3,707,000 after purchasing an additional 10,738 shares during the last quarter. Finally, KBC Group NV lifted its holdings in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

CTVA opened at $55.19 on Friday. The stock has a market cap of $37.93 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 1.85 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The stock has a fifty day moving average price of $58.34 and a 200 day moving average price of $55.66.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the topic of several analyst reports. Wells Fargo & Company lowered their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Citigroup initiated coverage on Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price on the stock. KeyCorp lowered their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their target price for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Corteva has a consensus rating of “Moderate Buy” and a consensus price target of $63.68.

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.