Corteva, Inc. (NYSE:CTVA) Shares Sold by ING Groep NV

ING Groep NV reduced its holdings in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 47.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,582 shares of the company's stock after selling 159,105 shares during the quarter. ING Groep NV's holdings in Corteva were worth $10,322,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Acadian Asset Management LLC purchased a new stake in shares of Corteva during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC grew its holdings in Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in Corteva during the 2nd quarter worth $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva in the 2nd quarter worth $43,000. Finally, Triad Wealth Partners LLC purchased a new position in Corteva in the 2nd quarter valued at about $45,000. Institutional investors and hedge funds own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

CTVA has been the topic of several recent analyst reports. Morgan Stanley reiterated an "overweight" rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Citigroup initiated coverage on Corteva in a research report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price target on the stock. Wells Fargo & Company decreased their price objective on shares of Corteva from $67.00 to $65.00 and set an "overweight" rating for the company in a report on Friday, August 2nd. KeyCorp lowered their target price on shares of Corteva from $66.00 to $62.00 and set an "overweight" rating for the company in a research note on Friday, August 2nd. Finally, Argus downgraded shares of Corteva from a "buy" rating to a "hold" rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $63.68.

Corteva Price Performance

Shares of CTVA stock traded down $2.22 during midday trading on Friday, reaching $55.19. 5,636,716 shares of the company were exchanged, compared to its average volume of 3,269,070. The company's 50 day moving average price is $58.34 and its two-hundred day moving average price is $55.67. The company has a market cap of $37.93 billion, a P/E ratio of 57.57, a PEG ratio of 1.85 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.89 and a 12 month 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.

Corteva Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a 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.