Axxcess Wealth Management LLC Sells 1,561 Shares of Corteva, Inc. (NYSE:CTVA)

Axxcess Wealth Management LLC cut its position in Corteva, Inc. (NYSE:CTVA) by 4.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,662 shares of the company’s stock after selling 1,561 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Corteva were worth $1,920,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Mesirow Financial Investment Management Inc. raised its holdings in shares of Corteva by 65.3% during the 3rd quarter. Mesirow Financial Investment Management Inc. now owns 24,065 shares of the company’s stock worth $1,415,000 after buying an additional 9,509 shares in the last quarter. Atria Investments Inc boosted its position in shares of Corteva by 1.6% during the 3rd quarter. Atria Investments Inc now owns 80,131 shares of the company’s stock valued at $4,711,000 after purchasing an additional 1,256 shares in the last quarter. Essex Savings Bank bought a new stake in shares of Corteva during the 3rd quarter valued at about $217,000. Bridges Investment Management Inc. boosted its holdings in Corteva by 5.8% in the third quarter. Bridges Investment Management Inc. now owns 4,949 shares of the company’s stock worth $291,000 after acquiring an additional 272 shares in the last quarter. Finally, Klingman & Associates LLC bought a new position in Corteva in the third quarter worth approximately $239,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. Bank of America raised Corteva from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $59.00 to $67.00 in a research note on Wednesday, October 16th. Barclays increased their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research report on Friday. UBS Group increased their price target on Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Argus downgraded Corteva from a “buy” rating to a “hold” rating in a research report on Wednesday, August 7th. Finally, Oppenheimer reissued an “outperform” rating and issued a $70.00 target price (up from $69.00) on shares of Corteva in a research report on Friday. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Price Performance

Shares of Corteva stock opened at $58.51 on Tuesday. The company has a fifty day moving average of $58.19 and a 200-day moving average of $55.60. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.17 and a current ratio of 1.50. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $63.75. The stock has a market capitalization of $40.50 billion, a price-to-earnings ratio of 59.29, a price-to-earnings-growth ratio of 1.72 and a beta of 0.77.

Corteva Dividend Announcement

The business also recently announced 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. This represents a $0.68 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Monday, December 2nd. Corteva’s dividend payout ratio 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.