Bronte Capital Management Pty Ltd. Has $34.95 Million Stock Position in Corteva, Inc. (NYSE:CTVA)

Bronte Capital Management Pty Ltd. lifted its holdings in Corteva, Inc. (NYSE:CTVA) by 0.2% in the 3rd quarter, Holdings Channel reports. The firm owned 594,420 shares of the company’s stock after buying an additional 1,117 shares during the quarter. Corteva accounts for 3.0% of Bronte Capital Management Pty Ltd.’s portfolio, making the stock its 13th biggest holding. Bronte Capital Management Pty Ltd.’s holdings in Corteva were worth $34,946,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of CTVA. Acadian Asset Management LLC bought a new stake in shares of Corteva during the 1st quarter worth about $25,000. Capital Advisors Ltd. LLC lifted 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 last quarter. Cultivar Capital Inc. bought a new stake in Corteva during the second quarter worth approximately $34,000. Redwood Wealth Management Group LLC acquired a new position in Corteva during the second quarter valued at approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva during the second quarter valued at approximately $45,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have commented on CTVA shares. Royal Bank of Canada lowered their price target on Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a report on Monday. Barclays increased their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. JPMorgan Chase & Co. lowered their price objective on shares of Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Bank of America upgraded shares of Corteva from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva has an average rating of “Moderate Buy” and an average price target of $63.68.

Corteva Trading Up 0.3 %

Shares of CTVA stock opened at $58.51 on Tuesday. The company has a quick ratio of 1.17, a current ratio of 1.50 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $40.50 billion, a P/E ratio of 59.10, a P/E/G ratio of 1.72 and a beta of 0.77. Corteva, Inc. has a 12-month low of $43.22 and a 12-month high of $63.75. The firm has a 50-day moving average price of $58.22 and a 200 day moving average price of $55.62.

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 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 1.16%. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

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.