Corteva, Inc. (NYSE:CTVA) Shares Sold by Baldwin Investment Management LLC

Baldwin Investment Management LLC lowered its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 13.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,354 shares of the company’s stock after selling 2,833 shares during the period. Baldwin Investment Management LLC’s holdings in Corteva were worth $1,079,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. KBC Group NV lifted its position in Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC grew its holdings in Corteva by 51.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after acquiring an additional 41,943 shares during the period. Charles Schwab Investment Management Inc. raised its position in Corteva by 1.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in Corteva by 16.1% in the 3rd quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after acquiring an additional 141,898 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its stake in shares of Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Ratings Changes

CTVA has been the subject of several recent research reports. Morgan Stanley reissued an “overweight” rating and set a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. KeyCorp raised their price objective on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Barclays boosted their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. cut their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Finally, Royal Bank of Canada decreased their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Corteva currently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Corteva Price Performance

Shares of NYSE:CTVA opened at $63.26 on Wednesday. The firm has a market cap of $43.48 billion, a price-to-earnings ratio of 63.90, a P/E/G ratio of 2.08 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $64.20. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business has a fifty day simple moving average of $58.97 and a 200 day simple moving average of $55.85.

Corteva announced that its board has approved a stock buyback program on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 1.07%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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.