Amalgamated Bank Sells 4,762 Shares of Corteva, Inc. (NYSE:CTVA)

Amalgamated Bank cut its stake in Corteva, Inc. (NYSE:CTVA) by 3.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 136,407 shares of the company’s stock after selling 4,762 shares during the quarter. Amalgamated Bank’s holdings in Corteva were worth $8,019,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Capital International Investors grew its stake in Corteva by 2.6% in the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after acquiring an additional 678,722 shares during the period. Van ECK Associates Corp increased its stake in Corteva by 2.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after purchasing an additional 213,872 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after buying an additional 1,514,954 shares during the period. Legal & General Group Plc lifted its stake in Corteva by 0.9% in the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after buying an additional 61,127 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after buying an additional 224,423 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Shares of NYSE CTVA opened at $61.74 on Thursday. The business has a fifty day moving average price of $58.14 and a two-hundred day moving average price of $55.55. The stock has a market capitalization of $42.74 billion, a PE ratio of 47.49, a P/E/G ratio of 1.75 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.75.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.10%. Corteva’s dividend payout ratio is 52.31%.

Analysts Set New Price Targets

CTVA has been the subject 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. Argus cut Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Bank of America raised shares of 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 note on Wednesday, October 16th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered their price objective 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $62.84.

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.