Victory Capital Management Inc. Has $20.27 Million Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Victory Capital Management Inc. cut its holdings in Corteva, Inc. (NYSE:CTVA) by 6.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 344,699 shares of the company’s stock after selling 22,287 shares during the period. Victory Capital Management Inc.’s holdings in Corteva were worth $20,265,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Aptus Capital Advisors LLC boosted its holdings in shares of Corteva by 7.2% during the 3rd quarter. Aptus Capital Advisors LLC now owns 4,503 shares of the company’s stock valued at $265,000 after acquiring an additional 303 shares in the last quarter. Apollon Wealth Management LLC grew its stake in Corteva by 16.5% in the 3rd quarter. Apollon Wealth Management LLC now owns 6,213 shares of the company’s stock valued at $365,000 after buying an additional 878 shares in the last quarter. Nations Financial Group Inc. IA ADV grew its position in shares of Corteva by 42.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,608 shares of the company’s stock valued at $389,000 after purchasing an additional 1,959 shares in the last quarter. Proffitt & Goodson Inc. grew its position in Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock worth $472,000 after acquiring an additional 174 shares in the last quarter. Finally, Ashton Thomas Securities LLC bought a new stake in Corteva in the third quarter worth $63,000. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CTVA shares. Barclays increased their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Argus lowered Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and upped their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $63.68.

Corteva Stock Performance

NYSE:CTVA opened at $57.01 on Tuesday. 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 stock has a market cap of $39.18 billion, a P/E ratio of 57.59, a PEG ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. The stock has a 50 day simple moving average of $58.36 and a 200 day simple moving average of $55.69.

Corteva Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.19%. Corteva’s dividend payout ratio (DPR) is 68.69%.

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.