Corteva, Inc. (NYSE:CTVA) Shares Purchased by SpiderRock Advisors LLC

SpiderRock Advisors LLC grew its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 37,146 shares of the company’s stock after purchasing an additional 687 shares during the quarter. SpiderRock Advisors LLC’s holdings in Corteva were worth $2,184,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of CTVA. Capital International Investors increased 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 worth $1,524,648,000 after buying an additional 678,722 shares during the period. Van ECK Associates Corp increased its holdings in Corteva by 2.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after buying an additional 213,872 shares during the period. Bank of New York Mellon Corp increased its holdings in Corteva by 28.4% in 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 buying 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 worth $363,662,000 after purchasing an additional 61,127 shares in 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 worth $250,786,000 after purchasing an additional 224,423 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Down 0.5 %

Shares of NYSE:CTVA opened at $58.33 on Friday. The business has a 50-day moving average price of $58.19 and a 200 day moving average price of $55.59. The company has a current ratio of 1.72, a quick ratio of 1.17 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $40.38 billion, a price-to-earnings ratio of 58.92, a PEG ratio of 1.78 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.75.

Corteva Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Analysts Set New Price Targets

Several research firms have commented on CTVA. UBS Group upped their price objective on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays increased their target price on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Finally, Citigroup assumed coverage on Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.47.

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.