Auxier Asset Management Has $3.33 Million Holdings in Corteva, Inc. (NYSE:CTVA)

Auxier Asset Management decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 0.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 56,714 shares of the company’s stock after selling 334 shares during the quarter. Auxier Asset Management’s holdings in Corteva were worth $3,334,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of CTVA. Public Sector Pension Investment Board increased its holdings in shares of Corteva by 11.3% in the third quarter. Public Sector Pension Investment Board now owns 29,502 shares of the company’s stock worth $1,734,000 after acquiring an additional 3,000 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Corteva by 44.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 526,620 shares of the company’s stock valued at $30,960,000 after purchasing an additional 161,269 shares during the period. CreativeOne Wealth LLC increased its stake in Corteva by 15.9% during the 3rd quarter. CreativeOne Wealth LLC now owns 50,613 shares of the company’s stock worth $2,976,000 after purchasing an additional 6,933 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Corteva during the 3rd quarter worth approximately $10,523,000. Finally, Bridgewater Associates LP lifted its stake in Corteva by 395.7% in the third quarter. Bridgewater Associates LP now owns 130,191 shares of the company’s stock valued at $7,654,000 after buying an additional 103,928 shares in the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Stock Performance

NYSE:CTVA opened at $62.50 on Friday. The company has a market capitalization of $42.96 billion, a P/E ratio of 63.13, a P/E/G ratio of 2.03 and a beta of 0.77. The business has a fifty day simple moving average of $59.15 and a two-hundred day simple moving average of $55.94. The company has a debt-to-equity ratio of 0.08, a current ratio of 1.50 and a quick ratio of 0.96. Corteva, Inc. has a 1 year low of $43.89 and a 1 year high of $64.20.

Corteva announced that its Board of Directors has initiated a share repurchase program on Tuesday, November 19th that permits the company to repurchase $3.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 annualized dividend and a dividend yield of 1.09%. Corteva’s dividend payout ratio is currently 68.69%.

Analysts Set New Price Targets

CTVA has been the subject of a number of research reports. Royal Bank of Canada lowered their target price on Corteva from $69.00 to $68.00 and set an “outperform” rating for the company in a report on Monday, November 11th. Bank of America increased their price objective on Corteva from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. UBS Group lifted 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. Barclays upped their price target on Corteva from $58.00 to $62.00 and gave the stock an “equal weight” rating in a research report on Friday, November 8th. Finally, Citigroup assumed coverage on shares of Corteva in a report on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. One analyst has rated the stock with a sell rating, four have issued a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus 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.