Thrivent Financial for Lutherans Has $60.28 Million Stake in Corteva, Inc. (NYSE:CTVA)

Thrivent Financial for Lutherans increased its stake in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 16.1% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,025,266 shares of the company's stock after acquiring an additional 141,898 shares during the period. Thrivent Financial for Lutherans owned about 0.15% of Corteva worth $60,275,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Capital International Investors increased its stake in Corteva by 2.6% in the 1st quarter. Capital International Investors now owns 26,437,457 shares of the company's stock valued at $1,524,648,000 after buying an additional 678,722 shares during the last quarter. Van ECK Associates Corp increased its stake in Corteva by 2.5% in the 3rd quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company's stock valued at $541,194,000 after buying an additional 213,872 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company's stock valued at $369,106,000 after buying an additional 1,514,954 shares during the last quarter. Legal & General Group Plc increased its stake in Corteva by 0.9% in the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company's stock valued at $363,662,000 after buying an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Corteva by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company's stock valued at $250,786,000 after buying an additional 224,423 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on CTVA. Argus lowered shares of Corteva from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th. Citigroup began coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a "buy" rating and a $68.00 target price for the company. Oppenheimer reissued an "outperform" rating and set a $70.00 price target (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. Wells Fargo & Company cut their price objective on Corteva from $67.00 to $65.00 and set an "overweight" rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their target price on Corteva from $57.00 to $55.00 and set a "neutral" 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 assigned a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $63.68.

Corteva Price Performance

Corteva stock traded up $1.15 during mid-day trading on Tuesday, reaching $58.14. 2,011,961 shares of the company were exchanged, compared to its average volume of 3,267,272. The company has a fifty day simple moving average of $58.36 and a 200-day simple moving average of $55.69. 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 current ratio of 1.50 and a quick ratio of 0.96. The firm has a market cap of $39.96 billion, a PE ratio of 57.59, a PEG ratio of 1.77 and a beta of 0.77.

Corteva Dividend Announcement

The company 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 annualized dividend and a yield of 1.17%. Corteva's dividend payout ratio 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.