Corteva, Inc. (NYSE:CTVA) Shares Bought by Harris Associates L P

Harris Associates L P increased its position in Corteva, Inc. (NYSE:CTVA) by 1.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 14,362,309 shares of the company’s stock after buying an additional 200,917 shares during the quarter. Corteva comprises 1.1% of Harris Associates L P’s holdings, making the stock its 26th largest position. Harris Associates L P’s holdings in Corteva were worth $844,360,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital Advisors Ltd. LLC lifted its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva during the second quarter worth approximately $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva in the second quarter valued at about $43,000. Triad Wealth Partners LLC acquired a new position in shares of Corteva in the second quarter valued at approximately $45,000. Finally, Chilton Capital Management LLC raised its holdings in Corteva by 354.7% during the second quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock worth $52,000 after acquiring an additional 759 shares in the last quarter. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTVA shares. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. KeyCorp raised their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, Barclays raised their price objective on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $65.06.

Corteva Trading Down 0.0 %

NYSE:CTVA opened at $62.22 on Tuesday. The firm has a market capitalization of $42.76 billion, a P/E ratio of 62.85, a PEG ratio of 2.02 and a beta of 0.77. 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 one year low of $43.89 and a one year high of $64.20. The company’s 50-day simple moving average is $59.24 and its 200 day simple moving average is $55.96.

Corteva declared that its board has authorized a share repurchase plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in shares. This repurchase authorization permits the company to buy up to 7.5% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio is 68.69%.

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.