Corteva, Inc. (NYSE:CTVA) Shares Sold by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. trimmed its position in Corteva, Inc. (NYSE:CTVA) by 7.5% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,870 shares of the company’s stock after selling 720 shares during the period. Sompo Asset Management Co. Ltd.’s holdings in Corteva were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CTVA. KBC Group NV boosted its stake in 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 buying an additional 815,135 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Corteva by 51.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after purchasing an additional 41,943 shares during the period. Thrivent Financial for Lutherans increased its stake in Corteva by 16.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock worth $60,275,000 after buying an additional 141,898 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its position in shares of Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after purchasing an additional 845 shares in the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Analysts Set New Price Targets

CTVA has been the subject of a number of research reports. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America boosted their target price on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. JPMorgan Chase & Co. dropped 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. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, Royal Bank of Canada lowered their target price on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $64.33.

Corteva Stock Up 0.8 %

Shares of NYSE:CTVA opened at $61.23 on Monday. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market cap of $42.08 billion, a PE ratio of 61.85, a price-to-earnings-growth ratio of 1.97 and a beta of 0.77. The firm has a 50 day simple moving average of $58.69 and a 200 day simple moving average of $55.77.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.11%. Corteva’s dividend payout ratio is 68.69%.

Corteva declared that its board has authorized a stock buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to reacquire up to 7.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Corteva Company 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.