Tradewinds LLC. Has $365,000 Stake in Corteva, Inc. (NYSE:CTVA)

Tradewinds LLC. raised its position in Corteva, Inc. (NYSE:CTVA) by 23.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,203 shares of the company’s stock after acquiring an additional 1,168 shares during the quarter. Tradewinds LLC.’s holdings in Corteva were worth $365,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. KBC Group NV raised its holdings in shares of Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after purchasing an additional 815,135 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after buying an additional 41,943 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Corteva by 16.1% in the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after buying an additional 141,898 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Corteva by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after acquiring an additional 845 shares during the period. Finally, Anomaly Capital Management LP acquired a new position in shares of Corteva during the 2nd quarter worth approximately $188,578,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Stock Performance

NYSE CTVA opened at $58.77 on Thursday. The firm’s 50 day simple moving average is $58.49 and its 200 day simple moving average is $55.72. The firm has a market capitalization of $40.39 billion, a price-to-earnings ratio of 59.36, a P/E/G ratio of 1.87 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75.

Corteva announced that its Board of Directors has authorized a stock repurchase program on Tuesday, November 19th that allows the company to buyback $3.00 billion in shares. This buyback authorization allows the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.

Corteva Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 annualized dividend and a dividend yield of 1.16%. Corteva’s payout ratio is 68.69%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on CTVA shares. 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 report on Friday, August 2nd. KeyCorp lifted their target price on shares of Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a report on Thursday. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Wells Fargo & Company boosted their price objective on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Bank of America lifted their price target on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.26.

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.