Asset Management One Co. Ltd. Decreases Stock Position in Corteva, Inc. (NYSE:CTVA)

Asset Management One Co. Ltd. lessened its holdings in shares of Corteva, Inc. (NYSE:CTVAGet Rating) by 2.7% during the third quarter, Holdings Channel reports. The firm owned 349,334 shares of the company’s stock after selling 9,569 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Corteva were worth $19,964,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of CTVA. FMR LLC grew its holdings in shares of Corteva by 8.0% during the 2nd quarter. FMR LLC now owns 16,030,378 shares of the company’s stock worth $867,885,000 after acquiring an additional 1,192,696 shares during the period. State Farm Mutual Automobile Insurance Co. grew its holdings in shares of Corteva by 1.5% during the 2nd quarter. State Farm Mutual Automobile Insurance Co. now owns 7,402,903 shares of the company’s stock worth $400,793,000 after acquiring an additional 108,923 shares during the period. Legal & General Group Plc grew its holdings in shares of Corteva by 8.9% during the 2nd quarter. Legal & General Group Plc now owns 5,843,247 shares of the company’s stock worth $316,355,000 after acquiring an additional 477,618 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Corteva by 3.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,580,065 shares of the company’s stock worth $205,782,000 after acquiring an additional 110,200 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Corteva by 1.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,578,413 shares of the company’s stock worth $193,736,000 after acquiring an additional 55,335 shares during the period. Hedge funds and other institutional investors own 79.45% of the company’s stock.

Corteva Price Performance

Shares of CTVA opened at $62.51 on Wednesday. The firm has a market cap of $44.66 billion, a PE ratio of 33.43, a P/E/G ratio of 1.17 and a beta of 0.78. The company has a current ratio of 1.69, a quick ratio of 1.08 and a debt-to-equity ratio of 0.05. The firm has a fifty day simple moving average of $62.31 and a two-hundred day simple moving average of $61.15. Corteva, Inc. has a 1-year low of $44.22 and a 1-year high of $68.43.

Corteva (NYSE:CTVAGet Rating) last announced its earnings results on Thursday, November 3rd. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.23) by $0.11. The business had revenue of $2.78 billion during the quarter, compared to analyst estimates of $2.58 billion. Corteva had a net margin of 7.95% and a return on equity of 7.31%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.14) EPS. On average, equities analysts anticipate that Corteva, Inc. will post 2.57 EPS for the current year.

Corteva Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Stockholders of record on Monday, November 14th were paid a $0.15 dividend. The ex-dividend date was Thursday, November 10th. This represents a $0.60 annualized dividend and a dividend yield of 0.96%. Corteva’s dividend payout ratio (DPR) is 32.09%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Loop Capital cut Corteva from a “buy” rating to a “hold” rating and boosted their price target for the stock from $70.00 to $71.00 in a research report on Tuesday, November 15th. Bank of America raised Corteva from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $64.00 to $68.00 in a research report on Wednesday, January 11th. BMO Capital Markets boosted their price target on Corteva from $72.00 to $76.00 and gave the stock an “outperform” rating in a research report on Monday, November 7th. UBS Group cut Corteva from a “buy” rating to a “neutral” rating and upped their price objective for the company from $70.00 to $73.00 in a research report on Tuesday, November 15th. Finally, Mizuho upped their price objective on Corteva from $76.00 to $78.00 and gave the company a “buy” rating in a research report on Thursday, January 12th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $72.59.

Corteva Company Profile

(Get Rating)

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.

Further Reading

Want to see what other hedge funds are holding CTVA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corteva, Inc. (NYSE:CTVAGet Rating).

Institutional Ownership by Quarter for Corteva (NYSE:CTVA)

Receive News & Ratings for Corteva Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corteva and related companies with MarketBeat.com's FREE daily email newsletter.