Corteva, Inc. (NYSE:CTVA) Shares Sold by Assetmark Inc.

Assetmark Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 3.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,110 shares of the company’s stock after selling 2,304 shares during the period. Assetmark Inc.’s holdings in Corteva were worth $4,063,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CTVA. Acadian Asset Management LLC purchased a new stake in Corteva during the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva in the second quarter valued at $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva during the 2nd quarter worth $45,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Price Performance

Shares of CTVA opened at $57.13 on Wednesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.50. Corteva, Inc. has a fifty-two week low of $43.22 and a fifty-two week high of $63.75. The firm has a 50-day simple moving average of $58.22 and a 200-day simple moving average of $55.62. The company has a market capitalization of $39.55 billion, a price-to-earnings ratio of 57.71, a price-to-earnings-growth ratio of 1.72 and a beta of 0.77.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Corteva’s payout ratio is 68.69%.

Analysts Set New Price Targets

CTVA has been the subject of several recent research reports. Wells Fargo & Company decreased their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Oppenheimer reaffirmed 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. UBS Group increased their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup began coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target for the company. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $63.68.

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.