CreativeOne Wealth LLC Grows Stock Holdings in Corteva, Inc. (NYSE:CTVA)

CreativeOne Wealth LLC increased its position in Corteva, Inc. (NYSE:CTVA) by 15.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 50,613 shares of the company’s stock after buying an additional 6,933 shares during the period. CreativeOne Wealth LLC’s holdings in Corteva were worth $2,976,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. KBC Group NV lifted its holdings in Corteva by 267.3% in the 3rd quarter. KBC Group NV now owns 1,120,104 shares of the company’s stock worth $65,851,000 after purchasing an additional 815,135 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Corteva by 51.4% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 123,621 shares of the company’s stock worth $6,668,000 after buying an additional 41,943 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Corteva by 1.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 4,523,996 shares of the company’s stock worth $265,966,000 after acquiring an additional 66,052 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in Corteva by 16.1% during the third quarter. Thrivent Financial for Lutherans now owns 1,025,266 shares of the company’s stock valued at $60,275,000 after acquiring an additional 141,898 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its holdings in Corteva by 0.4% in the 3rd quarter. Nisa Investment Advisors LLC now owns 220,134 shares of the company’s stock valued at $12,942,000 after acquiring an additional 845 shares during the last quarter. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CTVA has been the subject of several research reports. KeyCorp increased their price objective on shares of Corteva from $66.00 to $69.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Bank of America raised their price target on Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research note on Tuesday, September 24th. Royal Bank of Canada cut their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Finally, Oppenheimer reiterated an “outperform” rating and set a $70.00 price objective (up previously from $69.00) on shares of Corteva in a research report on Friday, November 8th. One 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $65.06.

Corteva Stock Performance

Corteva stock opened at $62.49 on Thursday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. The company has a market capitalization of $42.95 billion, a PE ratio of 63.12, a P/E/G ratio of 2.08 and a beta of 0.77. The company has a 50 day moving average price of $59.07 and a 200-day moving average price of $55.90. Corteva, Inc. has a fifty-two week low of $43.89 and a fifty-two week high of $64.20.

Corteva announced that its board has approved a stock repurchase plan on Tuesday, November 19th that allows the company to repurchase $3.00 billion in shares. This repurchase authorization allows the company to buy up to 7.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

Corteva Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 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.