Klingman & Associates LLC Takes $239,000 Position in Corteva, Inc. (NYSE:CTVA)

Klingman & Associates LLC bought a new stake in Corteva, Inc. (NYSE:CTVA) in the third quarter, HoldingsChannel.com reports. The fund bought 4,067 shares of the company’s stock, valued at approximately $239,000.

Several other large investors also recently bought and sold shares of CTVA. Capital International Investors lifted its stake in Corteva by 2.6% in the first quarter. Capital International Investors now owns 26,437,457 shares of the company’s stock worth $1,524,648,000 after purchasing an additional 678,722 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Corteva by 2.5% in the third quarter. Van ECK Associates Corp now owns 8,902,675 shares of the company’s stock worth $541,194,000 after buying an additional 213,872 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Corteva by 28.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 6,842,907 shares of the company’s stock worth $369,106,000 after acquiring an additional 1,514,954 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Corteva by 0.9% during the 2nd quarter. Legal & General Group Plc now owns 6,741,972 shares of the company’s stock worth $363,662,000 after acquiring an additional 61,127 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Corteva by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,649,450 shares of the company’s stock valued at $250,786,000 after acquiring an additional 224,423 shares during the period. Institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $58.33 on Friday. The company has a market capitalization of $40.38 billion, a PE ratio of 58.92, a P/E/G ratio of 1.78 and a beta of 0.77. The company has a 50-day simple moving average of $58.19 and a two-hundred day simple moving average of $55.59. Corteva, Inc. has a one year low of $43.22 and a one year high of $63.75. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.17 and a current ratio of 1.72.

Corteva Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a yield of 1.17%. Corteva’s payout ratio is 68.69%.

Wall Street Analyst Weigh In

CTVA has been the subject of several research analyst reports. Oppenheimer reiterated an “outperform” rating and set a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday. Wells Fargo & Company decreased their price objective on shares of Corteva from $67.00 to $65.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Barclays boosted their price objective on shares of Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Corteva in a research report on Tuesday, September 24th. Finally, JPMorgan Chase & Co. lowered their price target on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $63.47.

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.