Sigma Planning Corp Cuts Holdings in Corteva, Inc. (NYSE:CTVA)

Sigma Planning Corp cut its stake in shares of Corteva, Inc. (NYSE:CTVA) by 14.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 7,628 shares of the company’s stock after selling 1,287 shares during the quarter. Sigma Planning Corp’s holdings in Corteva were worth $448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rovin Capital UT ADV boosted its stake in shares of Corteva by 1.3% during the 3rd quarter. Rovin Capital UT ADV now owns 12,822 shares of the company’s stock worth $754,000 after acquiring an additional 168 shares during the last quarter. Capital Advisors Ltd. LLC raised its holdings in Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock worth $33,000 after purchasing an additional 174 shares during the period. Pinnacle Bancorp Inc. lifted its position in Corteva by 26.1% during the third quarter. Pinnacle Bancorp Inc. now owns 962 shares of the company’s stock valued at $57,000 after purchasing an additional 199 shares in the last quarter. Herr Investment Group LLC grew its holdings in Corteva by 2.8% during the first quarter. Herr Investment Group LLC now owns 7,400 shares of the company’s stock valued at $427,000 after purchasing an additional 200 shares during the period. Finally, Azzad Asset Management Inc. ADV increased its position in Corteva by 0.4% in the second quarter. Azzad Asset Management Inc. ADV now owns 48,200 shares of the company’s stock worth $2,600,000 after buying an additional 203 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on CTVA shares. UBS Group lifted 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. Citigroup initiated coverage on shares of Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price target on the stock. Argus cut shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Royal Bank of Canada lowered their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research note on Monday, November 11th. Finally, Barclays increased their target price on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $63.68.

Corteva Stock Performance

Shares of NYSE:CTVA opened at $55.19 on Friday. The firm has a fifty day simple moving average of $58.34 and a two-hundred day simple moving average of $55.67. Corteva, Inc. has a 52 week low of $43.89 and a 52 week 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. The stock has a market capitalization of $37.93 billion, a P/E ratio of 55.74, a PEG ratio of 1.85 and a beta of 0.77.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 annualized dividend and a yield of 1.23%. Corteva’s dividend payout ratio is currently 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.