Corteva, Inc. (NYSE:CTVA) Stake Lessened by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. trimmed its stake in shares of Corteva, Inc. (NYSE:CTVA) by 25.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 20,871 shares of the company’s stock after selling 7,264 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Corteva were worth $1,227,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC bought a new stake in Corteva during the first quarter valued at $25,000. Capital Advisors Ltd. LLC grew its position in shares of Corteva by 44.4% during the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after buying an additional 174 shares during the last quarter. Cultivar Capital Inc. bought a new position in Corteva in the second quarter worth about $34,000. Redwood Wealth Management Group LLC bought a new position in Corteva in the second quarter worth about $43,000. Finally, Triad Wealth Partners LLC bought a new position in shares of Corteva during the second quarter valued at approximately $45,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Corteva Trading Down 3.8 %

Shares of NYSE CTVA opened at $55.21 on Monday. The business has a fifty day simple moving average of $58.34 and a 200-day simple moving average of $55.69. The company has a market cap of $37.95 billion, a price-to-earnings ratio of 55.77, a P/E/G ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.89 and a 12 month high of $63.75. 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 Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 1.23%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CTVA shares. Royal Bank of Canada cut their price target on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Corteva in a research note on Tuesday, September 24th. Barclays upped their price target on shares of Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. reduced their target price on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Argus lowered shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. One research 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 MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.