Charles Schwab Investment Management Inc. Has $265.97 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Charles Schwab Investment Management Inc. lifted its stake in Corteva, Inc. (NYSE:CTVA) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,523,996 shares of the company’s stock after purchasing an additional 66,052 shares during the period. Charles Schwab Investment Management Inc. owned 0.65% of Corteva worth $265,966,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Anomaly Capital Management LP bought a new stake in Corteva in the second quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Corteva during the 3rd quarter worth $99,869,000. Bank of New York Mellon Corp raised its stake in Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after buying an additional 1,514,954 shares during the period. Finally, Panagora Asset Management Inc. lifted its holdings in Corteva by 700.2% during the second quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after acquiring an additional 1,139,297 shares in the last quarter. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Up 0.8 %

Shares of Corteva stock opened at $61.23 on Friday. The stock has a market cap of $42.08 billion, a P/E ratio of 61.85, a P/E/G ratio of 1.87 and a beta of 0.77. The company has a quick ratio of 0.96, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 12-month low of $43.89 and a 12-month high of $63.75. The business’s 50 day moving average is $58.69 and its 200-day moving average is $55.79.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio is currently 68.69%.

Corteva announced that its Board of Directors has initiated a share buyback plan on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have issued reports on CTVA. Morgan Stanley restated an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. KeyCorp increased their target price on Corteva from $66.00 to $69.00 and gave the stock an “overweight” rating in a research note on Thursday. UBS Group lifted their price target on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Citigroup started coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price target for the company. Finally, Wells Fargo & Company raised their price objective on shares of Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Corteva has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Corteva 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.