Lifeworks Advisors LLC Has $677,000 Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Lifeworks Advisors LLC cut its position in shares of Corteva, Inc. (NYSE:CTVA) by 21.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,507 shares of the company’s stock after selling 3,235 shares during the period. Lifeworks Advisors LLC’s holdings in Corteva were worth $677,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Anomaly Capital Management LP acquired a new position in Corteva in the 2nd quarter valued at about $188,578,000. Vaughan Nelson Investment Management L.P. grew its stake in Corteva by 392.3% in the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock valued at $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Corteva by 28.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after purchasing an additional 1,514,954 shares during the period. Panagora Asset Management Inc. boosted its holdings in Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock valued at $70,230,000 after purchasing an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC boosted its holdings in Corteva by 155.7% in the 2nd quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock valued at $91,389,000 after purchasing an additional 1,031,678 shares during the period. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

CTVA stock opened at $57.40 on Friday. The company has a 50 day simple moving average of $58.29 and a 200 day simple moving average of $55.65. The stock has a market cap of $39.45 billion, a price-to-earnings ratio of 57.98, a P/E/G ratio of 1.85 and a beta of 0.77. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 1.18%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Analysts Set New Price Targets

A number of analysts have issued reports on CTVA shares. Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. KeyCorp cut their price objective on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Oppenheimer reissued an “outperform” rating and issued a $70.00 price objective (up previously from $69.00) on shares of Corteva in a report on Friday, November 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus price target 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.