Corteva, Inc. (NYSE:CTVA) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lowered its position in shares of Corteva, Inc. (NYSE:CTVA) by 10.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,250 shares of the company’s stock after selling 974 shares during the period. Tower Bridge Advisors’ holdings in Corteva were worth $485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Capital International Investors raised its holdings in Corteva by 2.6% in the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after acquiring an additional 678,722 shares during the last quarter. Van ECK Associates Corp boosted its position in Corteva by 2.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after purchasing an additional 213,872 shares during the period. Bank of New York Mellon Corp boosted its position in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares during the period. Legal & General Group Plc boosted its position in Corteva by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after buying an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Corteva by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after buying an additional 224,423 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Trading Down 3.8 %

Shares of CTVA opened at $55.21 on Monday. The business’s 50-day moving average price is $58.34 and its 200-day moving average price is $55.69. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The stock has a market cap of $37.95 billion, a PE ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Ratings Changes

CTVA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their target price 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. Citigroup began coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Oppenheimer restated an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Royal Bank of Canada decreased their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Corteva presently 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.