Mirae Asset Global Investments Co. Ltd. Increases Stake in Corteva, Inc. $CTVA

Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 15.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 89,118 shares of the company’s stock after purchasing an additional 11,633 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $6,027,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Gladwyn Financial Advisors Inc. bought a new stake in Corteva during the 2nd quarter valued at $25,000. True Wealth Design LLC lifted its stake in Corteva by 209.5% in the third quarter. True Wealth Design LLC now owns 390 shares of the company’s stock worth $26,000 after purchasing an additional 264 shares during the last quarter. Total Investment Management Inc. purchased a new position in shares of Corteva in the second quarter worth about $27,000. Curat Global LLC increased its stake in Corteva by 93.7% in the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after purchasing an additional 179 shares during the period. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Corteva in the second quarter worth $29,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Price Performance

NYSE CTVA opened at $72.80 on Friday. Corteva, Inc. has a one year low of $53.40 and a one year high of $77.41. The stock has a 50-day moving average of $68.11 and a 200 day moving average of $68.37. The company has a market capitalization of $49.19 billion, a price-to-earnings ratio of 31.11, a PEG ratio of 1.88 and a beta of 0.74. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.07 and a current ratio of 1.58.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The business had revenue of $2.62 billion for the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the business earned ($0.49) EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 16th. Shareholders of record on Monday, March 2nd will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Monday, March 2nd. Corteva’s payout ratio is 30.77%.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research analyst reports. Bank of America boosted their price target on Corteva from $80.00 to $82.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Argus raised Corteva to a “strong-buy” rating in a research report on Friday, January 16th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Corteva from $90.00 to $85.00 and set a “buy” rating for the company in a report on Thursday, November 6th. Citigroup increased their target price on Corteva from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 21st. Finally, BNP Paribas Exane lifted their price target on Corteva from $70.00 to $72.00 and gave the stock a “neutral” rating in a research report on Monday, November 17th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $79.58.

Corteva Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid?2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.