Los Angeles Capital Management LLC Invests $205,000 in Corteva, Inc. (NYSE:CTVA)

Los Angeles Capital Management LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 3,487 shares of the company’s stock, valued at approximately $205,000.

Other hedge funds have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings 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 in the last quarter. Nisa Investment Advisors LLC grew its position in Corteva by 0.4% during the third quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after acquiring an additional 845 shares during the last quarter. Anomaly Capital Management LP purchased a new position in shares of Corteva during the second quarter worth approximately $188,578,000. Acadian Asset Management LLC lifted its holdings in shares of Corteva by 4,322.2% in the 2nd quarter. Acadian Asset Management LLC now owns 19,679 shares of the company’s stock worth $1,060,000 after acquiring an additional 19,234 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in shares of Corteva by 221.9% in the 1st quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock valued at $6,891,000 after purchasing an additional 82,369 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Corteva Price Performance

Shares of CTVA stock opened at $57.01 on Tuesday. The business’s fifty day moving average is $58.36 and its 200 day moving average is $55.69. 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 market cap of $39.18 billion, a price-to-earnings ratio of 57.59, a PEG ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a twelve month low of $43.89 and a twelve month high of $63.75.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a dividend yield of 1.19%. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

Several analysts have weighed in on CTVA shares. Oppenheimer reissued an “outperform” rating and issued a $70.00 price target (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. JPMorgan Chase & Co. dropped their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Corteva in a research note on Tuesday, September 24th. Barclays increased their price objective on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Citigroup started coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 target price on the stock. 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 stock. Based on data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $63.68.

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.