Nations Financial Group Inc. IA ADV Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Nations Financial Group Inc. IA ADV raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 42.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,608 shares of the company’s stock after buying an additional 1,959 shares during the period. Nations Financial Group Inc. IA ADV’s holdings in Corteva were worth $389,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Anomaly Capital Management LP purchased a new stake in shares of Corteva in the 2nd quarter worth $188,578,000. Vaughan Nelson Investment Management L.P. increased its stake in shares of Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after purchasing an additional 3,254,126 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after purchasing an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. increased its stake in Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in Corteva by 155.7% in the 2nd quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after buying an additional 1,031,678 shares in the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Stock Performance

Corteva stock opened at $57.40 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. The firm has a market capitalization of $39.45 billion, a P/E ratio of 58.27, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company’s 50-day moving average is $58.29 and its 200 day moving average is $55.65.

Corteva Dividend Announcement

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 given a $0.17 dividend. 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 currently 68.69%.

Analyst Ratings Changes

A number of brokerages have issued reports on CTVA. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Citigroup initiated coverage on Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. 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 report on Friday, November 8th. Finally, Oppenheimer reissued an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva 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.