Wellington Management Group LLP Boosts Holdings in Corteva, Inc. (NYSE:CTVA)

Wellington Management Group LLP boosted its holdings in Corteva, Inc. (NYSE:CTVA - Free Report) by 129.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 377,960 shares of the company's stock after purchasing an additional 213,377 shares during the period. Wellington Management Group LLP owned about 0.05% of Corteva worth $22,220,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of CTVA. Wealth Enhancement Advisory Services LLC increased its position in shares of Corteva by 51.4% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company's stock valued at $6,668,000 after buying an additional 41,943 shares during the period. Swedbank AB raised its holdings in Corteva by 16.0% during the 2nd quarter. Swedbank AB now owns 388,095 shares of the company's stock valued at $20,934,000 after buying an additional 53,430 shares during the last quarter. Triad Wealth Partners LLC purchased a new stake in Corteva during the 2nd quarter valued at $45,000. Blue Trust Inc. grew its holdings in Corteva by 6.6% in the 2nd quarter. Blue Trust Inc. now owns 10,633 shares of the company's stock worth $613,000 after acquiring an additional 654 shares during the last quarter. Finally, TCW Group Inc. increased its position in shares of Corteva by 29.9% in the second quarter. TCW Group Inc. now owns 79,597 shares of the company's stock valued at $4,293,000 after acquiring an additional 18,326 shares during the period. Institutional investors own 81.54% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CTVA shares. Wells Fargo & Company boosted their price target on Corteva from $65.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, November 20th. Barclays raised their price target on Corteva from $58.00 to $62.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. KeyCorp boosted their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Oppenheimer reaffirmed an "outperform" rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday, November 8th. Finally, UBS Group increased their price target on shares of Corteva from $67.00 to $71.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $65.06.

Corteva Stock Up 0.3 %

NYSE CTVA traded up $0.19 during mid-day trading on Friday, reaching $59.49. The stock had a trading volume of 1,990,520 shares, compared to its average volume of 3,298,174. The stock has a market cap of $40.89 billion, a PE ratio of 60.09, a price-to-earnings-growth ratio of 1.94 and a beta of 0.77. Corteva, Inc. has a 1 year low of $44.01 and a 1 year high of $64.20. 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 company has a fifty day moving average price of $59.68 and a 200 day moving average price of $56.25.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva's payout ratio is currently 68.69%.

Corteva announced that its Board of Directors has authorized a share repurchase plan on Tuesday, November 19th that authorizes the company to buyback $3.00 billion in shares. This buyback authorization authorizes the company to purchase up to 7.5% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its shares are undervalued.

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.