World Investment Advisors LLC Makes New $319,000 Investment in Corteva, Inc. (NYSE:CTVA)

World Investment Advisors LLC purchased a new stake in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,421 shares of the company’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Anomaly Capital Management LP purchased a new position in Corteva during the second quarter valued at approximately $188,578,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Corteva in the 3rd quarter valued at $99,869,000. Bank of New York Mellon Corp grew its position in shares of Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares in the last quarter. Panagora Asset Management Inc. increased its holdings in shares of Corteva by 700.2% in the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after purchasing an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC raised its position in shares of Corteva by 155.7% in the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after buying an additional 1,031,678 shares in the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. UBS Group boosted their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Barclays boosted their price objective on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Citigroup lowered their target price on shares of Corteva from $70.00 to $69.00 and set a “buy” rating on the stock in a research note on Wednesday. Bank of America boosted their price target on shares of Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. Finally, Oppenheimer restated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. One research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $65.12.

Corteva Trading Down 3.7 %

Shares of CTVA stock opened at $56.41 on Thursday. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. The business has a 50-day moving average of $59.74 and a 200 day moving average of $56.32. The stock has a market capitalization of $38.77 billion, a PE ratio of 56.98, a P/E/G ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a 1-year low of $44.01 and a 1-year high of $64.20.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.21%. The ex-dividend date was Monday, December 2nd. Corteva’s dividend payout ratio is 68.69%.

Corteva announced that its board has approved a share buyback plan on Tuesday, November 19th that permits the company to buyback $3.00 billion in shares. This buyback authorization permits the company to repurchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s leadership 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.