KBC Group NV Purchases 815,135 Shares of Corteva, Inc. (NYSE:CTVA)

KBC Group NV increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 267.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,120,104 shares of the company’s stock after buying an additional 815,135 shares during the period. KBC Group NV’s holdings in Corteva were worth $65,851,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Pinnacle Financial Partners Inc raised its position in shares of Corteva by 14.6% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 4,484 shares of the company’s stock worth $264,000 after acquiring an additional 570 shares in the last quarter. Empower Advisory Group LLC increased its holdings in Corteva by 10.3% in the third quarter. Empower Advisory Group LLC now owns 4,998 shares of the company’s stock worth $294,000 after purchasing an additional 468 shares in the last quarter. Aptus Capital Advisors LLC lifted its stake in Corteva by 7.2% in the third quarter. Aptus Capital Advisors LLC now owns 4,503 shares of the company’s stock valued at $265,000 after buying an additional 303 shares during the period. Apollon Wealth Management LLC boosted its holdings in shares of Corteva by 16.5% during the 3rd quarter. Apollon Wealth Management LLC now owns 6,213 shares of the company’s stock worth $365,000 after buying an additional 878 shares in the last quarter. Finally, Nations Financial Group Inc. IA ADV grew 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 buying an additional 1,959 shares during the period. Institutional investors and hedge funds own 81.54% of the company’s stock.

Corteva Trading Up 1.0 %

NYSE CTVA opened at $57.69 on Thursday. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 58.27, a PEG ratio of 1.83 and a beta of 0.77. The business’s fifty day moving average is $58.25 and its 200-day moving average is $55.64. 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 $63.75.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.18%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Analysts Set New Price Targets

CTVA has been the subject of a number of research reports. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Wells Fargo & Company reduced their price objective on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Royal Bank of Canada lowered their price objective on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday. Finally, Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average target price of $63.68.

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.