Mesirow Financial Investment Management Inc. Increases Stake in Corteva, Inc. (NYSE:CTVA)

Mesirow Financial Investment Management Inc. boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 65.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,065 shares of the company's stock after purchasing an additional 9,509 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Corteva were worth $1,415,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Acadian Asset Management LLC purchased a new position in shares of Corteva in the first quarter valued at about $25,000. Capital Advisors Ltd. LLC increased its position in shares of Corteva by 44.4% in the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock valued at $33,000 after acquiring an additional 174 shares during the period. Cultivar Capital Inc. purchased a new position in shares of Corteva in the second quarter valued at about $34,000. Redwood Wealth Management Group LLC purchased a new position in shares of Corteva in the second quarter valued at about $43,000. Finally, Triad Wealth Partners LLC purchased a new position in shares of Corteva in the second quarter valued at about $45,000. 81.54% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on CTVA shares. Oppenheimer restated an "outperform" rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday. KeyCorp reduced their price target on shares of Corteva from $66.00 to $62.00 and set an "overweight" rating on the stock in a research report on Friday, August 2nd. Royal Bank of Canada reduced their price target on shares of Corteva from $69.00 to $68.00 and set an "outperform" rating on the stock in a research report on Monday. Barclays boosted their price target on shares of Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday. Finally, Bank of America upgraded shares of Corteva from a "neutral" rating to a "buy" rating and boosted their price target for the company from $59.00 to $67.00 in a research report on Wednesday, October 16th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $63.68.

Corteva Stock Up 0.3 %

Shares of NYSE CTVA traded up $0.18 during midday trading on Monday, hitting $58.51. The stock had a trading volume of 2,735,468 shares, compared to its average volume of 3,267,783. The business's 50 day moving average is $58.19 and its 200-day moving average is $55.60. The company has a market cap of $40.50 billion, a P/E ratio of 59.29, a PEG ratio of 1.72 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $63.75. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.08.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. Corteva's dividend payout ratio (DPR) is 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.