Wolverine Asset Management LLC Has $588,000 Position in Corteva, Inc. (NYSE:CTVA)

Wolverine Asset Management LLC cut its holdings in Corteva, Inc. (NYSE:CTVA) by 9.1% in the third quarter, Holdings Channel.com reports. The fund owned 10,000 shares of the company’s stock after selling 1,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Corteva were worth $588,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Anomaly Capital Management LP bought a new position in shares of Corteva in the 2nd quarter valued at approximately $188,578,000. Vaughan Nelson Investment Management L.P. lifted its stake in shares of Corteva by 392.3% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 4,083,685 shares of the company’s stock worth $220,274,000 after buying an additional 3,254,126 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings 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 buying an additional 1,514,954 shares during the period. Panagora Asset Management Inc. raised its holdings in Corteva by 700.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 1,301,996 shares of the company’s stock worth $70,230,000 after acquiring an additional 1,139,297 shares during the period. Finally, Natixis Advisors LLC lifted its position in Corteva by 155.7% during the 2nd quarter. Natixis Advisors LLC now owns 1,694,214 shares of the company’s stock worth $91,389,000 after acquiring an additional 1,031,678 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Corteva Price Performance

Shares of Corteva stock opened at $57.69 on Thursday. The stock has a market capitalization of $39.65 billion, a price-to-earnings ratio of 58.24, a P/E/G ratio of 1.83 and a beta of 0.77. The firm’s 50-day moving average price is $58.25 and its two-hundred day moving average price is $55.64. The company has a current ratio of 1.50, a quick ratio of 0.96 and a debt-to-equity ratio of 0.08. Corteva, Inc. has a 1-year low of $43.89 and a 1-year high of $63.75.

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 issued 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 1.18%. Corteva’s dividend payout ratio is 68.69%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CTVA shares. Oppenheimer reiterated an “outperform” rating and issued a $70.00 price objective (up from $69.00) on shares of Corteva in a research note on Friday, November 8th. Wells Fargo & Company dropped their price target on Corteva from $67.00 to $65.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Argus cut Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Royal Bank of Canada dropped their target price on shares of Corteva from $69.00 to $68.00 and set an “outperform” rating on the stock in a research report on Monday. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.