Corteva, Inc. (NYSE:CTVA) Shares Acquired by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise grew its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 234.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 19,952 shares of the company's stock after purchasing an additional 13,981 shares during the quarter. Banque Cantonale Vaudoise's holdings in Corteva were worth $1,173,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Anomaly Capital Management LP purchased a new stake in Corteva during the 2nd quarter worth about $188,578,000. Vaughan Nelson Investment Management L.P. grew its holdings in Corteva by 392.3% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company's stock worth $220,274,000 after acquiring an additional 3,254,126 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Corteva by 28.4% in 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 during the last quarter. Panagora Asset Management Inc. raised its holdings in shares of Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company's stock valued at $70,230,000 after purchasing an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC lifted its position in shares of Corteva by 155.7% during the 2nd quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company's stock worth $91,389,000 after purchasing an additional 1,031,678 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of analyst reports. Morgan Stanley restated an "overweight" rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a report on Friday, November 8th. Bank of America boosted their price objective on shares of Corteva from $67.00 to $69.00 and gave the stock a "buy" rating in a research report on Wednesday. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a "neutral" rating on the stock in a research report on Friday, August 2nd. Finally, Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $64.26.

Corteva Price Performance

Shares of CTVA stock traded up $2.00 during midday trading on Thursday, reaching $60.76. 4,476,183 shares of the company traded hands, compared to its average volume of 3,283,740. The firm has a market cap of $41.76 billion, a PE ratio of 59.36, a price-to-earnings-growth ratio of 1.87 and a beta of 0.77. 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 firm's 50 day simple moving average is $58.49 and its two-hundred day simple moving average is $55.72. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75.

Corteva Dividend Announcement

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 given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's dividend payout ratio is currently 68.69%.

Corteva announced that its board has initiated a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 7.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board believes its shares are undervalued.

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.