Corteva, Inc. (NYSE:CTVA) Shares Sold by Empowered Funds LLC

Empowered Funds LLC lowered its stake in shares of Corteva, Inc. (NYSE:CTVA) by 11.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,825 shares of the company’s stock after selling 7,124 shares during the period. Empowered Funds LLC’s holdings in Corteva were worth $3,106,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. KBC Group NV grew its holdings in shares of Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after buying an additional 815,135 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Corteva by 51.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after acquiring an additional 41,943 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after acquiring an additional 845 shares during the period. Anomaly Capital Management LP acquired a new position in Corteva in the 2nd quarter valued at $188,578,000. Finally, Acadian Asset Management LLC lifted its stake in shares of Corteva by 4,322.2% during the 2nd quarter. Acadian Asset Management LLC now owns 19,679 shares of the company’s stock worth $1,060,000 after purchasing an additional 19,234 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on CTVA shares. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays raised their target price on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average target price of $63.68.

Corteva Stock Up 3.3 %

NYSE CTVA opened at $57.01 on Tuesday. 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 fifty-two week low of $43.89 and a fifty-two week high of $63.75. The business has a 50 day moving average price of $58.36 and a two-hundred day moving average price of $55.69. The stock has a market cap of $39.18 billion, a PE ratio of 57.59, a P/E/G ratio of 1.77 and a beta of 0.77.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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.