MML Investors Services LLC Buys 2,921 Shares of Corteva, Inc. (NYSE:CTVA)

MML Investors Services LLC grew its position in Corteva, Inc. (NYSE:CTVA) by 3.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 91,727 shares of the company’s stock after purchasing an additional 2,921 shares during the period. MML Investors Services LLC’s holdings in Corteva were worth $5,393,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CTVA. Capital Advisors Ltd. LLC lifted its holdings in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Corteva in the second quarter worth $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva during the second quarter worth about $43,000. Triad Wealth Partners LLC purchased a new stake in shares of Corteva in the 2nd quarter valued at about $45,000. Finally, Chilton Capital Management LLC boosted its position in shares of Corteva by 354.7% during the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock valued at $52,000 after acquiring an additional 759 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CTVA. Wells Fargo & Company lifted their price target on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday, November 20th. Barclays raised their price objective on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Royal Bank of Canada reduced their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. KeyCorp upped their price objective on shares of Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday, November 21st. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and a consensus target price of $65.06.

Corteva Price Performance

Shares of NYSE:CTVA opened at $59.30 on Friday. The company has a market capitalization of $40.76 billion, a P/E ratio of 59.90, a P/E/G ratio of 1.93 and a beta of 0.77. Corteva, Inc. has a 1-year low of $44.01 and a 1-year high of $64.20. The firm’s 50 day simple moving average is $59.63 and its two-hundred day simple moving average is $56.20. 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 announced that its board has approved a share buyback plan on Tuesday, November 19th that allows the company to buyback $3.00 billion in outstanding shares. This buyback authorization allows the company to purchase up to 7.5% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 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.