RIA Advisory Group LLC Acquires New Holdings in Corteva, Inc. (NYSE:CTVA)

RIA Advisory Group LLC bought a new position in Corteva, Inc. (NYSE:CTVA) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,842 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds have also added to or reduced their stakes in CTVA. KBC Group NV raised its position in Corteva by 267.3% in the third quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after acquiring an additional 815,135 shares during the period. Intech Investment Management LLC boosted its position in Corteva by 69.5% during the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after buying an additional 21,545 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in shares of Corteva by 51.4% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after purchasing an additional 41,943 shares during the period. Nisa Investment Advisors LLC grew its stake in Corteva by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock worth $12,942,000 after purchasing an additional 845 shares during the period. Finally, Anomaly Capital Management LP bought a new stake in Corteva in the second quarter worth $188,578,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Price Performance

Corteva stock traded down $2.20 during mid-day trading on Friday, reaching $55.21. 5,636,720 shares of the company’s stock traded hands, compared to its average volume of 3,269,070. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The stock has a 50 day moving average of $58.34 and a two-hundred day moving average of $55.66. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 55.74, a PEG ratio of 1.85 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $63.75.

Corteva Dividend Announcement

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 issued a $0.17 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. Corteva’s payout ratio is currently 68.69%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Corteva in a report on Tuesday, September 24th. KeyCorp decreased their price target on shares of Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Citigroup assumed coverage on shares of Corteva in a research report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target on the stock. Bank of America upgraded Corteva from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $59.00 to $67.00 in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company cut their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company 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.