Corteva, Inc. (NYSE:CTVA) Shares Bought by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC raised its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,793 shares of the company’s stock after acquiring an additional 664 shares during the period. Sawgrass Asset Management LLC’s holdings in Corteva were worth $635,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CTVA. RIA Advisory Group LLC acquired a new stake in Corteva in the 3rd quarter valued at approximately $285,000. Seelaus Asset Management LLC acquired a new stake in shares of Corteva in the third quarter valued at $247,000. Empirical Finance LLC raised its holdings in shares of Corteva by 2.0% in the 3rd quarter. Empirical Finance LLC now owns 24,588 shares of the company’s stock valued at $1,446,000 after buying an additional 492 shares during the period. Cornercap Investment Counsel Inc. acquired a new position in Corteva during the 3rd quarter worth about $808,000. Finally, First Business Financial Services Inc. boosted its holdings in Corteva by 9.1% during the 3rd quarter. First Business Financial Services Inc. now owns 40,350 shares of the company’s stock valued at $2,372,000 after acquiring an additional 3,379 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on CTVA. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and increased their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. UBS Group raised their price target on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Royal Bank of Canada cut their price objective on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday, November 11th. Wells Fargo & Company decreased their target price on Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and a consensus target price of $63.68.

Corteva Trading Down 3.8 %

Shares of CTVA stock opened at $55.21 on Friday. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The business’s 50 day moving average is $58.34 and its two-hundred day moving average is $55.67. The company has a market capitalization of $37.95 billion, a P/E ratio of 55.77, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77.

Corteva Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. 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 1.23%. Corteva’s dividend payout ratio (DPR) is 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.