Metis Global Partners LLC Increases Holdings in Corteva, Inc. (NYSE:CTVA)

Metis Global Partners LLC raised its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 20.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,050 shares of the company's stock after acquiring an additional 10,738 shares during the period. Metis Global Partners LLC's holdings in Corteva were worth $3,707,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CTVA. Rovin Capital UT ADV boosted its position in Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company's stock worth $754,000 after buying an additional 168 shares during the period. Capital Advisors Ltd. LLC raised its position in shares of Corteva by 44.4% during the third quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company's stock worth $33,000 after acquiring an additional 174 shares during the last quarter. Proffitt & Goodson Inc. increased its position in Corteva by 2.2% during the 3rd quarter. Proffitt & Goodson Inc. now owns 8,030 shares of the company's stock valued at $472,000 after purchasing an additional 174 shares during the period. Pinnacle Bancorp Inc. lifted its position in shares of Corteva by 26.1% in the 3rd quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company's stock worth $57,000 after purchasing an additional 199 shares during the period. Finally, Herr Investment Group LLC increased its position in shares of Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company's stock worth $427,000 after buying an additional 200 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of several research analyst reports. Oppenheimer restated an "outperform" rating and set a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Morgan Stanley restated an "overweight" rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Citigroup assumed coverage on Corteva in a report on Wednesday, October 23rd. They issued a "buy" rating and a $68.00 price target on the stock. Barclays boosted their price objective on Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a report on Friday, November 8th. Finally, Wells Fargo & Company dropped their price objective on shares of Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a research note on Friday, August 2nd. 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 company's stock. According to data from MarketBeat.com, Corteva presently has an average rating of "Moderate Buy" and a consensus target price of $63.68.

Corteva Stock Performance

NYSE CTVA traded down $2.22 during trading hours on Friday, reaching $55.19. 5,636,716 shares of the company were exchanged, compared to its average volume of 3,269,070. The stock has a market capitalization of $37.93 billion, a P/E ratio of 57.57, a P/E/G ratio of 1.85 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. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75. The business's 50 day simple moving average is $58.34 and its 200-day simple moving average is $55.67.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Corteva's dividend payout ratio is presently 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.