Corteva, Inc. (NYSE:CTVA) Shares Sold by Glenmede Trust Co. NA

Glenmede Trust Co. NA decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 1.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 258,496 shares of the company’s stock after selling 2,884 shares during the period. Glenmede Trust Co. NA’s holdings in Corteva were worth $15,197,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Capital Advisors Ltd. LLC grew its stake 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 period. Cultivar Capital Inc. acquired a new position in Corteva in the second quarter valued at $34,000. Redwood Wealth Management Group LLC purchased a new stake in Corteva during the second quarter valued at about $43,000. Triad Wealth Partners LLC acquired a new stake in Corteva during the second quarter worth about $45,000. Finally, Chilton Capital Management LLC raised its holdings in shares of Corteva by 354.7% in the 2nd quarter. Chilton Capital Management LLC now owns 973 shares of the company’s stock worth $52,000 after purchasing an additional 759 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Down 1.2 %

Shares of NYSE:CTVA opened at $62.50 on Friday. The firm has a market cap of $42.96 billion, a PE ratio of 63.13, a price-to-earnings-growth ratio of 2.08 and a beta of 0.77. The company has a fifty day simple moving average of $59.15 and a 200 day simple moving average of $55.94. The company has a current ratio of 1.50, a quick ratio of 0.96 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 $64.20.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.09%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CTVA shares. Wells Fargo & Company boosted their target price on Corteva from $65.00 to $67.00 and gave the stock an “overweight” rating in a report on Wednesday, November 20th. JPMorgan Chase & Co. dropped their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Wednesday, August 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Corteva in a research report on Tuesday, September 24th. Finally, UBS Group increased their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a report on Thursday, November 7th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Corteva has an average rating of “Moderate Buy” and an average target price of $65.06.

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.