Chesapeake Capital Corp IL Takes Position in Corteva, Inc. (NYSE:CTVA)

Chesapeake Capital Corp IL purchased a new stake in Corteva, Inc. (NYSE:CTVA - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 16,012 shares of the company's stock, valued at approximately $938,000. Corteva makes up about 0.9% of Chesapeake Capital Corp IL's portfolio, making the stock its 23rd largest position.

Several other large investors have also recently added to or reduced their stakes in the company. Sawgrass Asset Management LLC lifted its position in shares of Corteva by 6.6% during the 3rd quarter. Sawgrass Asset Management LLC now owns 10,793 shares of the company's stock worth $635,000 after buying an additional 664 shares during the period. RIA Advisory Group LLC bought a new position in shares of Corteva during the 3rd quarter worth approximately $285,000. Seelaus Asset Management LLC bought a new position in shares of Corteva during the 3rd quarter worth approximately $247,000. Empirical Finance LLC lifted its position in shares of Corteva by 2.0% during the 3rd quarter. Empirical Finance LLC now owns 24,588 shares of the company's stock worth $1,446,000 after buying an additional 492 shares during the period. Finally, Cornercap Investment Counsel Inc. bought a new position in Corteva in the 3rd quarter valued at $808,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analyst Weigh In

CTVA has been the subject of several research analyst reports. Oppenheimer reiterated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Citigroup initiated coverage on Corteva in a research report on Wednesday, October 23rd. They issued a "buy" rating and a $68.00 price objective for the company. Argus downgraded Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a research report on Friday, August 2nd. Finally, KeyCorp dropped their target price on Corteva from $66.00 to $62.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Corteva has a consensus rating of "Moderate Buy" and a consensus target price of $63.68.

Corteva Trading Down 3.8 %

NYSE:CTVA traded down $2.20 on Friday, reaching $55.21. The company's stock had a trading volume of 5,636,720 shares, compared to its average volume of 3,186,660. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The firm has a market cap of $37.95 billion, a PE ratio of 55.77, a PEG ratio of 1.77 and a beta of 0.77. The business's 50-day moving average price is $58.34 and its two-hundred day moving average price is $55.67.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 1.23%. Corteva's dividend payout ratio (DPR) is 68.69%.

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.