KBC Group NV Raises Position in Corteva, Inc. (NYSE:CTVA)

KBC Group NV grew its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 267.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 1,120,104 shares of the company's stock after acquiring an additional 815,135 shares during the period. KBC Group NV owned about 0.16% of Corteva worth $65,851,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Empowered Funds LLC grew its stake in shares of Corteva by 55.4% in the 1st quarter. Empowered Funds LLC now owns 16,804 shares of the company's stock worth $969,000 after buying an additional 5,989 shares during the last quarter. Bleakley Financial Group LLC grew its stake in shares of Corteva by 10.3% in the 1st quarter. Bleakley Financial Group LLC now owns 13,239 shares of the company's stock worth $764,000 after buying an additional 1,237 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Corteva by 14.7% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 948,127 shares of the company's stock valued at $54,678,000 after purchasing an additional 121,817 shares during the last quarter. Scout Investments Inc. boosted its stake in Corteva by 52.6% during the 1st quarter. Scout Investments Inc. now owns 255,467 shares of the company's stock valued at $14,735,000 after purchasing an additional 88,072 shares during the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Corteva by 4.1% during the 1st quarter. Kingsview Wealth Management LLC now owns 7,896 shares of the company's stock valued at $455,000 after purchasing an additional 309 shares during the last quarter. Hedge funds and other institutional investors own 81.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on CTVA shares. KeyCorp cut 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. Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They set a "buy" rating and a $68.00 price target on the stock. Bank of America raised Corteva from a "neutral" rating to a "buy" rating and raised their target price for the stock from $59.00 to $67.00 in a report on Wednesday, October 16th. Argus cut Corteva from a "buy" rating to a "hold" rating in a report on Wednesday, August 7th. Finally, Morgan Stanley reaffirmed an "overweight" rating and issued a $65.00 target price on shares of Corteva in a report on Tuesday, September 24th. 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 stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $63.68.

Corteva Trading Up 0.1 %

NYSE CTVA traded up $0.05 during trading on Thursday, hitting $57.71. The stock had a trading volume of 829,570 shares, compared to its average volume of 3,250,218. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The stock has a market capitalization of $39.66 billion, a price-to-earnings ratio of 58.27, a P/E/G ratio of 1.83 and a beta of 0.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The stock has a 50 day simple moving average of $58.29 and a 200 day simple moving average of $55.65.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. 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 dividend payout ratio is currently 68.69%.

Corteva Company 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.