Victory Capital Management Inc. Sells 22,287 Shares of Corteva, Inc. (NYSE:CTVA)

Victory Capital Management Inc. trimmed its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 6.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 344,699 shares of the company's stock after selling 22,287 shares during the quarter. Victory Capital Management Inc.'s holdings in Corteva were worth $20,265,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Anomaly Capital Management LP purchased a new position in shares of Corteva in the second quarter worth approximately $188,578,000. Vaughan Nelson Investment Management L.P. lifted its position in Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company's stock worth $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Corteva by 28.4% during the second 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. Panagora Asset Management Inc. lifted its holdings in Corteva by 700.2% during the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company's stock valued at $70,230,000 after buying an additional 1,139,297 shares in the last quarter. Finally, Natixis Advisors LLC increased its stake in shares of Corteva by 155.7% during the second quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company's stock valued at $91,389,000 after buying an additional 1,031,678 shares during the period. Hedge funds and other institutional investors own 81.54% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Barclays increased their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday, November 8th. KeyCorp decreased their price objective on Corteva from $66.00 to $62.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company reduced their price target on Corteva from $67.00 to $65.00 and set an "overweight" rating on the stock in a report on Friday, August 2nd. Oppenheimer reissued an "outperform" rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a "neutral" rating for the company in a report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Corteva has an average rating of "Moderate Buy" and a consensus price target of $63.68.

Corteva Price Performance

NYSE CTVA traded up $1.26 during trading on Tuesday, hitting $58.25. 4,217,640 shares of the company's stock were exchanged, compared to its average volume of 3,277,418. The stock's 50 day moving average price is $58.36 and its two-hundred day moving average price is $55.69. The company has a market cap of $40.03 billion, a PE ratio of 57.59, a P/E/G ratio of 1.77 and a beta of 0.77. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $63.75.

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 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 yield of 1.17%. Corteva's dividend payout ratio (DPR) is currently 68.69%.

Corteva 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.