Corteva, Inc. (NYSE:CTVA) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 9.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,000 shares of the company’s stock after selling 1,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Corteva were worth $588,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Acadian Asset Management LLC acquired a new stake in Corteva during the first quarter valued at approximately $25,000. Capital Advisors Ltd. LLC lifted its position in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after buying an additional 174 shares during the last quarter. Cultivar Capital Inc. acquired a new stake in Corteva during the second quarter worth about $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC bought a new stake in Corteva in the second quarter valued at $45,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on CTVA shares. Morgan Stanley restated an “overweight” rating and set a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. UBS Group upped their target price on Corteva from $67.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. 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, November 8th. KeyCorp decreased their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Finally, Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research report 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $63.68.

Corteva Stock Performance

CTVA stock opened at $57.69 on Thursday. The firm has a 50 day simple moving average of $58.25 and a 200 day simple moving average of $55.64. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The stock has a market cap of $39.65 billion, a P/E ratio of 58.24, a P/E/G ratio of 1.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50.

Corteva Announces Dividend

The business 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 annualized dividend and a dividend yield of 1.18%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

About Corteva

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.