Landscape Capital Management L.L.C. Cuts Position in Corteva, Inc. (NYSE:CTVA)

Landscape Capital Management L.L.C. reduced its stake in shares of Corteva, Inc. (NYSE:CTVA) by 22.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,631 shares of the company’s stock after selling 4,142 shares during the period. Landscape Capital Management L.L.C.’s holdings in Corteva were worth $860,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. Acadian Asset Management LLC purchased a new stake in Corteva during the first quarter worth about $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after acquiring an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth approximately $34,000. Redwood Wealth Management Group LLC purchased a new position in Corteva in the 2nd quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva during the second quarter worth $45,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Up 0.8 %

Shares of CTVA stock opened at $61.23 on Friday. The firm’s 50-day simple moving average is $58.69 and its 200-day simple moving average is $55.79. 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 1-year low of $43.89 and a 1-year high of $63.75. The firm has a market cap of $42.08 billion, a P/E ratio of 61.85, a PEG 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. Shareholders of record on Monday, December 2nd will be issued 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 1.11%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on CTVA shares. UBS Group raised their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Wells Fargo & Company raised their target price on shares of Corteva from $65.00 to $67.00 and gave the company an “overweight” rating in a report on Wednesday. Oppenheimer restated an “outperform” rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Finally, Royal Bank of Canada cut their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a research report on Monday, November 11th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $64.33.

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.