Sumitomo Mitsui Trust Group Inc. Has $162.02 Million Stock Holdings in Corteva, Inc. $CTVA

Sumitomo Mitsui Trust Group Inc. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,173,925 shares of the company’s stock after selling 18,024 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Corteva were worth $162,023,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently bought and sold shares of the company. Gladwyn Financial Advisors Inc. purchased a new position in Corteva during the 2nd quarter worth $25,000. Maryland Capital Advisors Inc. purchased a new position in shares of Corteva in the 2nd quarter worth about $29,000. Valley National Advisers Inc. lifted its holdings in Corteva by 85.9% during the first quarter. Valley National Advisers Inc. now owns 526 shares of the company’s stock valued at $33,000 after purchasing an additional 243 shares during the last quarter. Richardson Capital Management LLC purchased a new stake in Corteva during the first quarter valued at about $37,000. Finally, DHJJ Financial Advisors Ltd. lifted its holdings in Corteva by 132.2% during the second quarter. DHJJ Financial Advisors Ltd. now owns 527 shares of the company’s stock valued at $39,000 after purchasing an additional 300 shares during the last quarter. 81.54% of the stock is owned by hedge funds and other institutional investors.

Corteva Stock Up 0.2%

Shares of NYSE CTVA opened at $63.63 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. The firm’s 50 day simple moving average is $68.53 and its two-hundred day simple moving average is $69.04. The stock has a market capitalization of $43.21 billion, a P/E ratio of 31.04, a PEG ratio of 1.45 and a beta of 0.76.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 EPS for the quarter, beating analysts’ consensus estimates of $1.89 by $0.31. Corteva had a net margin of 8.16% and a return on equity of 8.68%. The business had revenue of $6.46 billion for the quarter, compared to analysts’ expectations of $6.26 billion. During the same period last year, the business earned $1.83 earnings per share. The business’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd were issued a $0.18 dividend. This is a positive change from Corteva’s previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, September 2nd. Corteva’s dividend payout ratio (DPR) is 35.12%.

Insider Activity

In other news, EVP Robert D. King sold 37,280 shares of the firm’s stock in a transaction that occurred on Friday, August 29th. The shares were sold at an average price of $74.20, for a total value of $2,766,176.00. Following the transaction, the executive vice president owned 49,262 shares in the company, valued at approximately $3,655,240.40. This trade represents a 43.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

CTVA has been the topic of several recent research reports. Barclays raised shares of Corteva from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Citigroup cut Corteva from a “buy” rating to a “neutral” rating and decreased their price target for the company from $83.00 to $70.00 in a research report on Thursday, October 2nd. Oppenheimer decreased their price target on Corteva from $87.00 to $75.00 and set an “outperform” rating on the stock in a research report on Wednesday. JPMorgan Chase & Co. upgraded Corteva from a “neutral” rating to an “overweight” rating and set a $67.00 price target on the stock in a research report on Thursday, October 2nd. Finally, BMO Capital Markets set a $86.00 price objective on shares of Corteva in a research report on Monday, September 15th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $79.94.

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.