Corteva, Inc. (NYSE:CTVA) Shares Acquired by Harris Associates L P

Harris Associates L P increased its holdings in Corteva, Inc. (NYSE:CTVA) by 1.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,362,309 shares of the company’s stock after purchasing an additional 200,917 shares during the quarter. Corteva accounts for 1.1% of Harris Associates L P’s holdings, making the stock its 26th biggest position. Harris Associates L P owned about 2.09% of Corteva worth $844,360,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CTVA. Capital Advisors Ltd. LLC raised its position in Corteva by 44.4% in 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 during the last quarter. Cultivar Capital Inc. bought a new position in shares of Corteva in the 2nd quarter valued at $34,000. Redwood Wealth Management Group LLC bought a new stake in shares of Corteva during the second quarter worth about $43,000. Triad Wealth Partners LLC bought a new stake in Corteva during the second quarter valued at $45,000. Finally, Chilton Capital Management LLC raised its position in shares of Corteva by 354.7% during the second quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock worth $52,000 after purchasing an additional 759 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Down 0.0 %

CTVA opened at $62.22 on Tuesday. The firm’s 50 day simple moving average is $59.24 and its two-hundred day simple moving average is $55.96. 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 1-year low of $43.89 and a 1-year high of $64.20. The company has a market capitalization of $42.76 billion, a PE ratio of 62.85, a PEG ratio of 2.02 and a beta of 0.77.

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

Corteva Dividend Announcement

The business 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 $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent research reports. Citigroup began coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective on the stock. UBS Group upped their target price on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. KeyCorp raised their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Argus lowered Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Corteva presently has an average rating of “Moderate Buy” and an average price target of $65.06.

About Corteva

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.