Ferguson Wellman Capital Management Inc. Has $1.08 Million Stake in Corteva, Inc. (NYSE:CTVA)

Ferguson Wellman Capital Management Inc. decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.3% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 18,319 shares of the company’s stock after selling 830 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Corteva were worth $1,077,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC bought a new stake in shares of Corteva during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC boosted its stake in Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the last quarter. Cultivar Capital Inc. bought a new position in Corteva in the second quarter valued at approximately $34,000. Redwood Wealth Management Group LLC bought a new position in Corteva in the second quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva in the second quarter valued at approximately $45,000. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on CTVA. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and set a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Barclays raised their price objective on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Finally, Royal Bank of Canada dropped their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday. One 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’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Stock Down 0.5 %

Corteva stock opened at $57.40 on Friday. The firm has a market capitalization of $39.45 billion, a PE ratio of 57.98, a P/E/G ratio of 1.85 and a beta of 0.77. The company’s 50-day moving average is $58.29 and its 200-day moving average is $55.65. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Dividend Announcement

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

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.