Sumitomo Mitsui Trust Group Inc. Sells 40,396 Shares of Corteva, Inc. $CTVA

Sumitomo Mitsui Trust Group Inc. lessened its position in Corteva, Inc. (NYSE:CTVA) by 1.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,133,529 shares of the company’s stock after selling 40,396 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Corteva were worth $144,291,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in CTVA. Gladwyn Financial Advisors Inc. bought a new stake in Corteva in the second quarter worth about $25,000. Total Investment Management Inc. purchased a new stake in shares of Corteva in the second quarter worth approximately $27,000. Curat Global LLC lifted its stake in shares of Corteva by 93.7% during the 2nd quarter. Curat Global LLC now owns 370 shares of the company’s stock worth $28,000 after acquiring an additional 179 shares during the last quarter. Maryland Capital Advisors Inc. purchased a new position in Corteva during the 2nd quarter valued at $29,000. Finally, True Wealth Design LLC grew its position in Corteva by 209.5% in the 3rd quarter. True Wealth Design LLC now owns 390 shares of the company’s stock valued at $26,000 after acquiring an additional 264 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on CTVA shares. Jefferies Financial Group decreased their target price on Corteva from $92.00 to $85.00 in a research report on Thursday, October 2nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Corteva in a report on Monday, December 29th. Argus lowered their price objective on shares of Corteva from $83.00 to $80.00 and set a “buy” rating for the company in a research report on Monday, October 13th. Wall Street Zen downgraded shares of Corteva from a “buy” rating to a “hold” rating in a research note on Saturday, January 3rd. Finally, Rothschild & Co Redburn decreased their price target on shares of Corteva from $71.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, November 11th. Sixteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $78.21.

Corteva Trading Down 0.2%

NYSE CTVA opened at $68.53 on Tuesday. 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 0.07, a quick ratio of 1.07 and a current ratio of 1.58. The company has a market capitalization of $46.31 billion, a price-to-earnings ratio of 29.29, a price-to-earnings-growth ratio of 1.39 and a beta of 0.74. The company’s 50-day simple moving average is $66.28 and its two-hundred day simple moving average is $68.71.

Corteva (NYSE:CTVA) last announced its quarterly earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share for the quarter, topping 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 firm had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. During the same quarter in the prior year, the company earned ($0.49) EPS. The company’s revenue was up 6.5% compared to the same quarter last year. Equities analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s dividend payout ratio (DPR) is 30.77%.

About Corteva

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.