Swiss National Bank Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Swiss National Bank reduced its stake in Corteva, Inc. (NYSE:CTVA) by 0.0% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,068,583 shares of the company’s stock after selling 700 shares during the quarter. Swiss National Bank’s holdings in Corteva were worth $121,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rovin Capital UT ADV raised its position in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after buying an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its stake in shares of Corteva by 44.4% during the 3rd 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. Proffitt & Goodson Inc. grew its stake in shares of Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after purchasing an additional 174 shares during the period. Pinnacle Bancorp Inc. grew its stake in shares of Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after purchasing an additional 199 shares during the period. Finally, Azzad Asset Management Inc. ADV grew its stake in shares of Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after purchasing an additional 203 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 3.3 %

NYSE CTVA opened at $57.01 on Tuesday. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. 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 business’s fifty day simple moving average is $58.36 and its 200-day simple moving average is $55.69. The firm has a market cap of $39.18 billion, a PE ratio of 57.59, a P/E/G ratio of 1.77 and a beta of 0.77.

Corteva Announces Dividend

The business 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio is presently 68.69%.

Analysts Set New Price Targets

A number of brokerages have recently commented on CTVA. Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped 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. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Finally, Citigroup assumed coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average price target 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.