Corteva, Inc. (NYSE:CTVA) Stake Lessened by Empowered Funds LLC

Empowered Funds LLC lowered its stake in Corteva, Inc. (NYSE:CTVA) by 11.9% in the 3rd quarter, according to its most recent filing with the SEC. 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.

A number of other institutional investors have also modified their holdings of the stock. Acadian Asset Management LLC acquired a new stake in Corteva during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC raised its holdings in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the period. Cultivar Capital Inc. bought a new position in shares of Corteva in the 2nd quarter worth about $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva during the 2nd quarter valued at about $43,000. Finally, Triad Wealth Partners LLC acquired a new stake in Corteva during the second quarter worth about $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Up 3.3 %

Shares of CTVA stock opened at $57.01 on Tuesday. 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 stock has a market cap of $39.18 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. The business’s fifty day moving average is $58.36 and its 200-day moving average is $55.69. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75.

Corteva Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Citigroup began coverage on Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. Oppenheimer reiterated an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Finally, Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

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.