ICICI Prudential Asset Management Co Ltd Sells 12,300 Shares of Corteva, Inc. (NYSE:CTVA)

ICICI Prudential Asset Management Co Ltd decreased its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 6.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 164,840 shares of the company's stock after selling 12,300 shares during the period. Corteva accounts for about 1.0% of ICICI Prudential Asset Management Co Ltd's investment portfolio, making the stock its 26th largest holding. ICICI Prudential Asset Management Co Ltd's holdings in Corteva were worth $9,691,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the first quarter valued at $25,000. Capital Advisors Ltd. LLC lifted its stake in Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after buying an additional 174 shares in the last quarter. Cultivar Capital Inc. acquired a new position in shares of Corteva in the second quarter worth about $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of Corteva in the second quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva during the second quarter valued at $45,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock traded up $0.55 during mid-day trading on Wednesday, hitting $57.69. 2,396,028 shares of the company were exchanged, compared to its average volume of 3,261,221. The company has a market capitalization of $39.65 billion, a PE ratio of 58.24, a price-to-earnings-growth ratio of 1.83 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The business has a fifty day moving average of $58.25 and a 200 day moving average of $55.64. 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 announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date is Monday, December 2nd. Corteva's dividend payout ratio (DPR) is currently 68.69%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. UBS Group increased 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 reiterated an "overweight" rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. KeyCorp lowered their target price on Corteva from $66.00 to $62.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price target on Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company lowered their price target on Corteva from $67.00 to $65.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Corteva has a consensus rating of "Moderate Buy" and a consensus target price of $63.68.

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.