Corteva, Inc. (NYSE:CTVA) Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC boosted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 33.5% in the third quarter, Holdings Channel reports. The fund owned 6,432 shares of the company’s stock after purchasing an additional 1,613 shares during the period. Old North State Wealth Management LLC’s holdings in Corteva were worth $379,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Acadian Asset Management LLC acquired a new position in shares of Corteva during the first quarter worth about $25,000. Capital Advisors Ltd. LLC increased its position in 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. Cultivar Capital Inc. purchased a new position in shares of Corteva during the 2nd quarter worth approximately $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva in the 2nd quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC purchased a new stake in shares of Corteva in the second quarter valued at approximately $45,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Shares of NYSE CTVA opened at $60.86 on Monday. The company has a 50-day simple moving average of $57.79 and a 200-day simple moving average of $55.40. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.72 and a quick ratio of 1.17. The company has a market cap of $42.13 billion, a PE ratio of 46.82, a price-to-earnings-growth ratio of 1.75 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $62.38.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.12%. Corteva’s payout ratio is currently 52.31%.

Analysts Set New Price Targets

A number of equities research analysts have commented on CTVA shares. Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Wells Fargo & Company lowered their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. reduced their price target on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Citigroup began coverage on Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $62.84.

About Corteva

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.