Corteva, Inc. (NYSE:CTVA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. cut its position in Corteva, Inc. (NYSE:CTVA) by 2.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,427,466 shares of the company’s stock after selling 57,562 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.35% of Corteva worth $142,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Apollon Wealth Management LLC increased its holdings in Corteva by 16.5% in the third 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 during the last quarter. Nations Financial Group Inc. IA ADV boosted 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 worth $389,000 after acquiring an additional 1,959 shares in the last quarter. Proffitt & Goodson Inc. increased its holdings in shares of Corteva by 2.2% in the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company’s stock valued at $472,000 after acquiring an additional 174 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in shares of Corteva during the 3rd quarter worth about $63,000. Finally, Los Angeles Capital Management LLC purchased a new stake in Corteva during the third quarter worth approximately $205,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. 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. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Wells Fargo & Company dropped their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Barclays lifted their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Price Performance

Shares of CTVA opened at $57.13 on Wednesday. The company has a current ratio of 1.50, a quick ratio of 1.17 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average is $58.22 and its two-hundred day moving average is $55.62. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $63.75. The firm has a market capitalization of $39.55 billion, a PE ratio of 57.71, a P/E/G ratio of 1.72 and a beta of 0.77.

Corteva Dividend Announcement

The firm also recently declared 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 dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 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.