Charles Schwab Investment Management Inc. Has $265.97 Million Position in Corteva, Inc. (NYSE:CTVA)

Charles Schwab Investment Management Inc. lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.5% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 4,523,996 shares of the company’s stock after buying an additional 66,052 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Corteva were worth $265,966,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Acadian Asset Management LLC bought a new position in Corteva in the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its stake 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 stake in Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the 2nd quarter valued at $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva during the 2nd quarter worth $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 0.8 %

Shares of CTVA stock opened at $61.23 on Friday. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The stock’s fifty day simple moving average is $58.69 and its 200 day simple moving average is $55.79. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a market capitalization of $42.08 billion, a P/E ratio of 61.85, a P/E/G ratio of 1.87 and a beta of 0.77.

Corteva announced that its board has approved a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its shares are undervalued.

Corteva Announces Dividend

The company 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. This represents a $0.68 annualized dividend and a dividend yield of 1.11%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analyst Upgrades and Downgrades

Several research firms recently commented on CTVA. KeyCorp upped their price target on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research note on Thursday. Royal Bank of Canada lowered their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Barclays increased their price target on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Finally, Wells Fargo & Company boosted their price target on Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

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.