Sumitomo Mitsui Trust Group Inc. Sells 57,562 Shares of Corteva, Inc. (NYSE:CTVA)

Sumitomo Mitsui Trust Group Inc. reduced its position in Corteva, Inc. (NYSE:CTVA - Free Report) by 2.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,427,466 shares of the company's stock after selling 57,562 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.35% of Corteva worth $142,711,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Apollon Wealth Management LLC increased its position in Corteva by 16.5% during the third quarter. Apollon Wealth Management LLC now owns 6,213 shares of the company's stock worth $365,000 after purchasing an additional 878 shares during the last quarter. Nations Financial Group Inc. IA ADV increased its holdings in shares of Corteva by 42.1% during the 3rd quarter. Nations Financial Group Inc. IA ADV now owns 6,608 shares of the company's stock worth $389,000 after buying an additional 1,959 shares during the last quarter. Proffitt & Goodson Inc. boosted its holdings in Corteva by 2.2% in the third quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company's stock valued at $472,000 after acquiring an additional 174 shares during the last quarter. Ashton Thomas Securities LLC acquired a new stake in Corteva during the third quarter worth about $63,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Corteva in the 3rd quarter worth about $205,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Morgan Stanley restated an "overweight" rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. Bank of America upgraded shares of Corteva from a "neutral" rating to a "buy" rating and lifted their target price for the company from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus lowered Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. Royal Bank of Canada decreased their target price on Corteva from $69.00 to $68.00 and set an "outperform" rating for the company in a research report on Monday. Finally, Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 target price on the stock. 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. Based on data from MarketBeat, Corteva presently has an average rating of "Moderate Buy" and a consensus price target of $63.68.

Corteva Stock Performance

Corteva stock traded up $0.55 during mid-day trading on Wednesday, reaching $57.69. The company's stock had a trading volume of 2,396,028 shares, compared to its average volume of 3,261,221. The firm has a market cap of $39.65 billion, a price-to-earnings ratio of 58.24, a PEG ratio of 1.83 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The business has a 50 day moving average price of $58.25 and a 200-day moving average price of $55.64. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08.

Corteva Announces Dividend

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 paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's payout ratio is currently 68.69%.

Corteva 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.