Corteva, Inc. (NYSE:CTVA) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC increased its holdings in Corteva, Inc. (NYSE:CTVA) by 20.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 63,050 shares of the company’s stock after purchasing an additional 10,738 shares during the quarter. Metis Global Partners LLC’s holdings in Corteva were worth $3,707,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of CTVA. Anomaly Capital Management LP purchased a new stake in shares of Corteva during the second quarter worth about $188,578,000. Vaughan Nelson Investment Management L.P. raised its holdings in shares of Corteva by 392.3% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after acquiring an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Corteva by 28.4% during the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after acquiring an additional 1,514,954 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after acquiring an additional 1,139,297 shares during the last quarter. Finally, Natixis Advisors LLC boosted its stake in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after acquiring an additional 1,031,678 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 0.5 %

NYSE:CTVA opened at $57.40 on Friday. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The stock’s fifty day moving average is $58.29 and its two-hundred day moving average is $55.65. The stock has a market capitalization of $39.45 billion, a price-to-earnings ratio of 57.98, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

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 issued a dividend of $0.17 per share. 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 (DPR) is 68.69%.

Analyst Ratings Changes

A number of brokerages have weighed in on CTVA. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Royal Bank of Canada lowered their price target on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective 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 upped their price target for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Barclays increased 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. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and an average price target 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.