Prime Capital Investment Advisors LLC Cuts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Prime Capital Investment Advisors LLC lessened its position in Corteva, Inc. (NYSE:CTVA) by 3.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 11,261 shares of the company’s stock after selling 371 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Corteva were worth $662,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in CTVA. Acadian Asset Management LLC purchased a new stake in Corteva during the 1st quarter valued at about $25,000. Capital Advisors Ltd. LLC grew its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the second quarter valued at approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva during the second quarter worth $45,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 3.9 %

NYSE:CTVA opened at $55.19 on Friday. The stock has a fifty day moving average price of $58.34 and a 200 day moving average price of $55.67. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $63.75. The firm has a market cap of $37.93 billion, a PE ratio of 55.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a 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%.

Analysts Set New Price Targets

Several research analysts have recently commented on CTVA shares. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. KeyCorp reduced their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Oppenheimer restated an “outperform” rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Royal Bank of Canada decreased their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, UBS Group raised their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.