Cornercap Investment Counsel Inc. Invests $808,000 in Corteva, Inc. (NYSE:CTVA)

Cornercap Investment Counsel Inc. purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 13,747 shares of the company’s stock, valued at approximately $808,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Business Financial Services Inc. increased its stake in Corteva by 9.1% during the third quarter. First Business Financial Services Inc. now owns 40,350 shares of the company’s stock valued at $2,372,000 after acquiring an additional 3,379 shares during the period. Dearborn Partners LLC boosted its holdings in Corteva by 47.8% during the third quarter. Dearborn Partners LLC now owns 10,034 shares of the company’s stock valued at $590,000 after purchasing an additional 3,247 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Corteva by 9.1% during the third quarter. CIBC Asset Management Inc now owns 106,979 shares of the company’s stock valued at $6,289,000 after purchasing an additional 8,912 shares in the last quarter. Metis Global Partners LLC boosted its holdings in Corteva by 20.5% during the third quarter. Metis Global Partners LLC now owns 63,050 shares of the company’s stock valued at $3,707,000 after purchasing an additional 10,738 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Corteva by 267.3% during the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Down 3.9 %

Shares of CTVA opened at $55.19 on Friday. Corteva, Inc. has a 12 month low of $43.89 and a 12 month high of $63.75. The firm’s 50 day moving average is $58.34 and its 200-day moving average is $55.66. The stock has a market capitalization of $37.93 billion, a PE ratio of 55.74, a P/E/G ratio of 1.85 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The firm also recently announced 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 is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Corteva’s dividend payout ratio is presently 68.69%.

Analyst Upgrades and Downgrades

CTVA has been the topic of a number of recent research reports. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective on the stock. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. Finally, Oppenheimer restated an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

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.