Thrivent Financial for Lutherans Buys 141,898 Shares of Corteva, Inc. (NYSE:CTVA)

Thrivent Financial for Lutherans lifted its stake in shares of Corteva, Inc. (NYSE:CTVA) by 16.1% during the third quarter, HoldingsChannel reports. The firm owned 1,025,266 shares of the company’s stock after acquiring an additional 141,898 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Corteva were worth $60,275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Rovin Capital UT ADV increased its holdings in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after acquiring an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC grew its holdings in shares of 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 in the last quarter. Proffitt & Goodson Inc. grew its holdings in shares of Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after purchasing an additional 174 shares in the last quarter. Pinnacle Bancorp Inc. grew its holdings in shares of Corteva by 26.1% during the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock worth $57,000 after purchasing an additional 199 shares in the last quarter. Finally, Azzad Asset Management Inc. ADV lifted its position in shares of Corteva by 0.4% during the 2nd quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after buying an additional 203 shares during the last quarter. Institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

Corteva stock opened at $57.01 on Tuesday. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The business has a 50-day simple moving average of $58.36 and a 200 day simple moving average of $55.69. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a market cap of $39.18 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 1.77 and a beta of 0.77.

Corteva Announces Dividend

The firm 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 dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTVA. Oppenheimer restated an “outperform” rating and set a $70.00 price objective (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Royal Bank of Canada lowered their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. 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. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the company from $59.00 to $67.00 in a research note on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Company 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.