Oppenheimer Asset Management Inc. Has $1.23 Million Position in Corteva, Inc. (NYSE:CTVA)

Oppenheimer Asset Management Inc. lessened its stake in Corteva, Inc. (NYSE:CTVA) by 25.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 20,871 shares of the company’s stock after selling 7,264 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CTVA. Acadian Asset Management LLC acquired a new position in shares of Corteva in the first quarter worth $25,000. Capital Advisors Ltd. LLC increased its position in 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 purchasing an additional 174 shares during the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Corteva during the 2nd quarter worth about $34,000. Redwood Wealth Management Group LLC acquired a new stake in shares of Corteva during the 2nd quarter valued at about $43,000. Finally, Triad Wealth Partners LLC bought a new stake in shares of Corteva in the 2nd quarter valued at approximately $45,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of NYSE CTVA opened at $55.21 on Monday. The firm has a market capitalization of $37.95 billion, a price-to-earnings ratio of 55.77, a PEG ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a one year low of $43.89 and a one year high of $63.75. The business has a fifty day simple moving average of $58.34 and a 200 day simple moving average of $55.69. 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 Announces Dividend

The firm also recently disclosed 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 1.23%. The ex-dividend date is Monday, December 2nd. Corteva’s payout ratio is 68.69%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CTVA. Citigroup began coverage on shares of Corteva in a research report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective on the stock. Barclays raised their price target on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. KeyCorp lowered their target price on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. decreased their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, UBS Group increased their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $63.68.

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.