Corteva, Inc. (NYSE:CTVA) Shares Sold by Janus Henderson Group PLC

Janus Henderson Group PLC decreased its position in shares of Corteva, Inc. (NYSE:CTVA) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,195,046 shares of the company’s stock after selling 288,333 shares during the quarter. Janus Henderson Group PLC’s holdings in Corteva were worth $658,155,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Cetera Investment Advisers lifted its holdings in shares of Corteva by 221.9% during the 1st quarter. Cetera Investment Advisers now owns 119,493 shares of the company’s stock valued at $6,891,000 after acquiring an additional 82,369 shares in the last quarter. Cetera Advisors LLC grew its position in shares of Corteva by 39.1% during the 1st quarter. Cetera Advisors LLC now owns 34,424 shares of the company’s stock valued at $1,985,000 after buying an additional 9,675 shares during the last quarter. GAMMA Investing LLC boosted its stake in Corteva by 27.3% during the 2nd quarter. GAMMA Investing LLC now owns 7,324 shares of the company’s stock valued at $395,000 after purchasing an additional 1,569 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Corteva by 15.5% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 2,032 shares of the company’s stock valued at $110,000 after purchasing an additional 273 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Corteva in the 2nd quarter worth approximately $66,000. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Price Performance

NYSE CTVA opened at $62.22 on Tuesday. 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 company has a fifty day simple moving average of $59.24 and a 200 day simple moving average of $55.96. The company has a market cap of $42.76 billion, a P/E ratio of 62.85, a P/E/G ratio of 2.02 and a beta of 0.77. 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 authorized a share repurchase plan on Tuesday, November 19th that authorizes the company to repurchase $3.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 7.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

Corteva Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.09%. The ex-dividend date is Monday, December 2nd. Corteva’s dividend payout ratio (DPR) is presently 68.69%.

Analyst Ratings Changes

A number of analysts recently commented on the stock. Argus downgraded shares of Corteva from a “buy” rating to a “hold” rating in a report on Wednesday, August 7th. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Corteva in a report on Tuesday, September 24th. UBS Group upped their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Bank of America upped their price objective on shares of Corteva from $67.00 to $69.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Finally, Citigroup initiated coverage on shares of Corteva in a research note on Wednesday, October 23rd. They issued a “buy” rating and a $68.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Corteva presently has an average 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.