SpiderRock Advisors LLC Purchases 687 Shares of Corteva, Inc. (NYSE:CTVA)

SpiderRock Advisors LLC raised its position in shares of Corteva, Inc. (NYSE:CTVA) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 37,146 shares of the company’s stock after purchasing an additional 687 shares during the quarter. SpiderRock Advisors LLC’s holdings in Corteva were worth $2,184,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors increased its stake in Corteva by 2.6% during the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock valued at $1,524,648,000 after purchasing an additional 678,722 shares in the last quarter. Van ECK Associates Corp boosted its holdings in shares of Corteva by 2.5% during the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock valued at $541,194,000 after acquiring an additional 213,872 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Corteva by 28.4% during the 2nd 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. Legal & General Group Plc boosted its holdings in shares of Corteva by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after acquiring an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Corteva by 5.1% in the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after buying an additional 224,423 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of Corteva stock opened at $58.33 on Friday. The company has a market capitalization of $40.38 billion, a PE ratio of 58.92, a P/E/G ratio of 1.78 and a beta of 0.77. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72. The company has a 50-day simple moving average of $58.19 and a two-hundred day simple moving average of $55.59. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.75.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.17%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp lowered their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday. Finally, Barclays lifted 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. One research 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $63.47.

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.