WCM Investment Management LLC Trims Holdings in Corteva, Inc. (NYSE:CTVA)

WCM Investment Management LLC decreased its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,921,810 shares of the company's stock after selling 96,613 shares during the period. WCM Investment Management LLC owned 1.00% of Corteva worth $405,480,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Capital International Investors boosted 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 worth $1,524,648,000 after purchasing an additional 678,722 shares during the period. Van ECK Associates Corp boosted its position in shares of Corteva by 2.5% in the third quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company's stock valued at $541,194,000 after acquiring an additional 213,872 shares during the period. Bank of New York Mellon Corp grew its stake in 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 acquiring an additional 1,514,954 shares in the last quarter. Legal & General Group Plc increased its holdings in Corteva by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company's stock worth $363,662,000 after acquiring an additional 61,127 shares during the period. Finally, Dimensional Fund Advisors LP lifted 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 worth $250,786,000 after purchasing an additional 224,423 shares in the last quarter. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on CTVA. UBS Group upped their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a report on Thursday. Oppenheimer restated an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research note on Friday. Barclays lifted their price target on Corteva from $58.00 to $62.00 and gave the company an "equal weight" rating in a research report on Friday. Bank of America upgraded shares of Corteva from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Argus downgraded shares of Corteva from a "buy" rating to a "hold" rating in a research note on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $63.68.

Corteva Trading Up 0.3 %

Corteva stock traded up $0.18 during mid-day trading on Monday, reaching $58.51. 2,735,468 shares of the company traded hands, compared to its average volume of 3,267,783. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 1.17. The firm's 50 day moving average price is $58.19 and its 200 day moving average price is $55.60. The firm has a market capitalization of $40.50 billion, a price-to-earnings ratio of 59.29, a P/E/G 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.

Corteva Announces Dividend

The business also recently disclosed 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. This represents a $0.68 dividend on an annualized basis and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's 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.