Saturna Capital Corp Sells 4,900 Shares of Corteva, Inc. (NYSE:CTVA)

Saturna Capital Corp reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 13.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,236 shares of the company’s stock after selling 4,900 shares during the quarter. Saturna Capital Corp’s holdings in Corteva were worth $1,895,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Acadian Asset Management LLC bought a new position in Corteva in the 1st quarter valued at $25,000. Capital Advisors Ltd. LLC lifted its stake in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. bought a new position in Corteva in the second quarter valued at about $34,000. Redwood Wealth Management Group LLC bought a new position in Corteva in the second quarter valued at about $43,000. Finally, Triad Wealth Partners LLC bought a new position in Corteva in the second quarter valued at about $45,000. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on CTVA. Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. KeyCorp decreased their price target on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and raised their price target for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Finally, Wells Fargo & Company decreased their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Trading Up 1.0 %

NYSE:CTVA opened at $57.72 on Wednesday. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The stock has a market capitalization of $39.67 billion, a PE ratio of 57.71, a price-to-earnings-growth ratio of 1.76 and a beta of 0.77. The business’s 50-day simple moving average is $58.25 and its 200-day simple moving average is $55.64.

Corteva Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is presently 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.