Chesapeake Capital Corp IL Invests $938,000 in Corteva, Inc. (NYSE:CTVA)

Chesapeake Capital Corp IL bought a new position in shares of Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, HoldingsChannel reports. The fund bought 16,012 shares of the company’s stock, valued at approximately $938,000. Corteva accounts for about 0.9% of Chesapeake Capital Corp IL’s investment portfolio, making the stock its 23rd biggest holding.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. KBC Group NV raised its position in shares of Corteva by 267.3% during the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock valued at $65,851,000 after buying an additional 815,135 shares during the period. Intech Investment Management LLC raised its position in shares of Corteva by 69.5% during the 1st quarter. Intech Investment Management LLC now owns 52,557 shares of the company’s stock valued at $3,031,000 after buying an additional 21,545 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Corteva by 51.4% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock valued at $6,668,000 after buying an additional 41,943 shares during the period. Nisa Investment Advisors LLC raised its position in shares of Corteva by 0.4% during the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after buying an additional 845 shares during the period. Finally, Anomaly Capital Management LP purchased a new stake in shares of Corteva during the 2nd quarter valued at approximately $188,578,000. 81.54% of the stock is currently owned by institutional investors and hedge funds.

Corteva Stock Performance

Shares of CTVA stock opened at $55.21 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. The firm has a fifty day moving average price of $58.34 and a 200 day moving average price of $55.67. The company has a market cap of $37.95 billion, a P/E ratio of 55.77, a PEG ratio of 1.77 and a beta of 0.77. Corteva, Inc. has a 12 month low of $43.89 and a 12 month high of $63.75.

Corteva Announces Dividend

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 paid a dividend of $0.17 per share. 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 1.23%. Corteva’s payout ratio is currently 68.69%.

Wall Street Analysts Forecast Growth

CTVA has been the topic of a number of research analyst reports. Oppenheimer reissued an “outperform” rating and issued a $70.00 target price (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. KeyCorp cut their target price on Corteva from $66.00 to $62.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. UBS Group boosted their target price on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Barclays boosted their target price on Corteva from $58.00 to $62.00 and gave the company 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 issued a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $63.68.

Corteva Company 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.