Victory Capital Management Inc. Has $20.27 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Victory Capital Management Inc. cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 6.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 344,699 shares of the company’s stock after selling 22,287 shares during the quarter. Victory Capital Management Inc.’s holdings in Corteva were worth $20,265,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in CTVA. Anomaly Capital Management LP bought a new position in shares of Corteva during the second quarter valued at about $188,578,000. Vaughan Nelson Investment Management L.P. raised its stake in shares of Corteva by 392.3% in the second 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 period. Bank of New York Mellon Corp raised its stake in shares of Corteva by 28.4% in the second quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock valued at $369,106,000 after buying an additional 1,514,954 shares during the period. Panagora Asset Management Inc. raised its stake in shares of Corteva by 700.2% during 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 raised its stake in shares of Corteva by 155.7% during 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.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Bank of America raised shares of Corteva from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. UBS Group boosted their price objective on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. lowered their price objective on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.68.

Corteva Stock Up 3.3 %

Shares of NYSE:CTVA opened at $57.01 on Tuesday. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $63.75. The firm has a market capitalization of $39.18 billion, a PE ratio of 57.59, a price-to-earnings-growth ratio of 1.77 and a beta of 0.77. The business has a 50 day simple moving average of $58.36 and a two-hundred day simple moving average of $55.69. 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 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 paid a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio (DPR) is presently 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.