Cornercap Investment Counsel Inc. Invests $808,000 in Corteva, Inc. (NYSE:CTVA)

Cornercap Investment Counsel Inc. bought a new position in Corteva, Inc. (NYSE:CTVA - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,747 shares of the company's stock, valued at approximately $808,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. First Business Financial Services Inc. increased its stake in shares of Corteva by 9.1% during the 3rd quarter. First Business Financial Services Inc. now owns 40,350 shares of the company's stock worth $2,372,000 after purchasing an additional 3,379 shares during the last quarter. Dearborn Partners LLC grew its position in shares of Corteva by 47.8% in the third quarter. Dearborn Partners LLC now owns 10,034 shares of the company's stock valued at $590,000 after purchasing an additional 3,247 shares in the last quarter. CIBC Asset Management Inc raised its stake in shares of Corteva by 9.1% during the 3rd quarter. CIBC Asset Management Inc now owns 106,979 shares of the company's stock valued at $6,289,000 after purchasing an additional 8,912 shares during the period. Metis Global Partners LLC lifted its holdings in shares of Corteva by 20.5% in the third quarter. Metis Global Partners LLC now owns 63,050 shares of the company's stock worth $3,707,000 after buying an additional 10,738 shares in the last quarter. Finally, KBC Group NV boosted its position in shares of Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company's stock valued at $65,851,000 after acquiring an additional 815,135 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on CTVA shares. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. UBS Group lifted their target price on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Morgan Stanley restated an "overweight" rating and set a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. Royal Bank of Canada decreased their price objective on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Monday, November 11th. Finally, Argus cut Corteva from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $63.68.

Corteva Stock Down 3.8 %

NYSE CTVA traded down $2.20 during mid-day trading on Friday, reaching $55.21. The stock had a trading volume of 5,636,720 shares, compared to its average volume of 3,269,070. The stock has a market cap of $37.95 billion, a PE ratio of 55.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The company has a fifty day moving average price of $58.34 and a 200 day moving average price of $55.66. 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 current ratio of 1.50 and a quick ratio of 0.96.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 yield of 1.23%. The ex-dividend date is Monday, December 2nd. 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.