Landscape Capital Management L.L.C. Decreases Stake in Corteva, Inc. (NYSE:CTVA)

Landscape Capital Management L.L.C. trimmed its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 22.1% during the third quarter, HoldingsChannel reports. The institutional investor owned 14,631 shares of the company’s stock after selling 4,142 shares during the quarter. Landscape Capital Management L.L.C.’s holdings in Corteva were worth $860,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Corteva by 2.5% in the third quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock valued at $541,194,000 after buying an additional 213,872 shares in the last quarter. Bank of New York Mellon Corp grew its position in Corteva by 28.4% in the second 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 in the last quarter. Legal & General Group Plc raised its stake in shares of Corteva by 0.9% during the second quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock valued at $363,662,000 after purchasing an additional 61,127 shares during the period. Dimensional Fund Advisors LP lifted its position in shares of Corteva by 5.1% during the second quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock worth $250,786,000 after purchasing an additional 224,423 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. boosted its stake in shares of Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after purchasing an additional 3,254,126 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Royal Bank of Canada dropped their price target on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. KeyCorp lifted their target price on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America increased their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday. UBS Group lifted their price objective on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup assumed coverage on Corteva in a research note on Wednesday, October 23rd. They set a “buy” rating and a $68.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $64.33.

Corteva Price Performance

Shares of NYSE:CTVA opened at $61.23 on Friday. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The firm has a 50-day simple moving average of $58.69 and a 200 day simple moving average of $55.79. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75. The company has a market cap of $42.08 billion, a PE ratio of 61.85, a P/E/G ratio of 1.87 and a beta of 0.77.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Corteva declared that its board has initiated a share buyback plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to reacquire up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

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.