Ashton Thomas Securities LLC Takes $63,000 Position in Corteva, Inc. (NYSE:CTVA)

Ashton Thomas Securities LLC acquired a new stake in Corteva, Inc. (NYSE:CTVA) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 1,064 shares of the company’s stock, valued at approximately $63,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of CTVA. Anomaly Capital Management LP bought a new stake in shares of Corteva during the 2nd quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. raised its holdings in Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Corteva by 28.4% during the second 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 last quarter. Panagora Asset Management Inc. raised its holdings in Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after buying an additional 1,139,297 shares during the last quarter. Finally, Natixis Advisors LLC raised its holdings in Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after buying an additional 1,031,678 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the topic of several research reports. Oppenheimer restated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Wells Fargo & Company reduced their target price on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Citigroup initiated coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price for the company. Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Finally, KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Stock Down 2.4 %

NYSE CTVA opened at $57.13 on Wednesday. The stock’s 50-day moving average price is $58.22 and its 200-day moving average price is $55.62. The company has a market capitalization of $39.55 billion, a P/E ratio of 57.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.77. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.75.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors 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 1.19%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is 68.69%.

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.