Meridian Investment Counsel Inc. Sells 1,704 Shares of Corteva, Inc. (NYSE:CTVA)

Meridian Investment Counsel Inc. decreased its stake in shares of Corteva, Inc. (NYSE:CTVA) by 19.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 6,907 shares of the company’s stock after selling 1,704 shares during the quarter. Meridian Investment Counsel Inc.’s holdings in Corteva were worth $406,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in CTVA. Acadian Asset Management LLC acquired a new position in shares of Corteva in the 1st quarter worth approximately $25,000. Capital Advisors Ltd. LLC boosted its stake in shares of Corteva by 44.4% in the 3rd quarter. Capital Advisors Ltd. LLC now owns 566 shares of the company’s stock valued at $33,000 after purchasing an additional 174 shares in the last quarter. Cultivar Capital Inc. bought a new position in Corteva during the 2nd quarter valued at about $34,000. Redwood Wealth Management Group LLC bought a new stake in Corteva during the 2nd quarter worth approximately $43,000. Finally, Triad Wealth Partners LLC acquired a new position in Corteva in the second quarter worth $45,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Analyst Upgrades and Downgrades

CTVA has been the subject of several research reports. UBS Group raised their price objective on shares of Corteva from $67.00 to $71.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Morgan Stanley restated an “overweight” rating and issued a $65.00 price objective on shares of Corteva in a research report on Tuesday, September 24th. JPMorgan Chase & Co. lowered their target price on Corteva from $57.00 to $55.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Barclays upped their price target on Corteva from $58.00 to $62.00 and gave the company an “equal weight” rating in a research note on Friday, November 8th. Finally, Citigroup initiated coverage on Corteva in a report on Wednesday, October 23rd. They set a “buy” rating and a $68.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Corteva currently has a consensus rating of “Moderate Buy” and an average price target of $63.68.

Corteva Price Performance

Corteva stock opened at $55.19 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.96 and a current ratio of 1.50. Corteva, Inc. has a 52 week low of $43.89 and a 52 week high of $63.75. The stock has a market capitalization of $37.93 billion, a P/E ratio of 55.74, a price-to-earnings-growth ratio of 1.85 and a beta of 0.77. The stock has a fifty day moving average of $58.34 and a 200-day moving average of $55.66.

Corteva Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.23%. Corteva’s dividend payout ratio (DPR) is currently 68.69%.

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.