Sumitomo Mitsui Trust Holdings Inc. Buys 31,171 Shares of Corteva, Inc. (NYSE:CTVA)

Sumitomo Mitsui Trust Holdings Inc. increased its stake in Corteva, Inc. (NYSE:CTVA) by 1.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,760,701 shares of the company’s stock after purchasing an additional 31,171 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Corteva were worth $132,293,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. WCM Investment Management LLC boosted its stake in Corteva by 3.1% in the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after buying an additional 213,949 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Corteva in the third quarter worth approximately $1,258,000. 17 Capital Partners LLC purchased a new stake in Corteva in the fourth quarter worth approximately $1,649,000. Factory Mutual Insurance Co. boosted its stake in Corteva by 10.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock worth $25,520,000 after buying an additional 51,500 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Corteva by 9.7% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after buying an additional 68,593 shares in the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on CTVA shares. JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $57.00 target price (down previously from $58.00) on shares of Corteva in a research note on Friday. Loop Capital upgraded Corteva from a “hold” rating to a “buy” rating and raised their price target for the company from $57.00 to $65.00 in a report on Monday, February 12th. Royal Bank of Canada raised their price target on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a report on Friday, February 2nd. Wolfe Research initiated coverage on Corteva in a report on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective for the company. Finally, Wells Fargo & Company lifted their price objective on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $63.05.

Corteva Stock Down 0.2 %

CTVA stock opened at $53.67 on Tuesday. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $63.06. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. The stock has a market cap of $37.51 billion, a P/E ratio of 52.62, a PEG ratio of 1.40 and a beta of 0.77. The business’s 50-day moving average price is $55.17 and its 200-day moving average price is $50.20.

Corteva (NYSE:CTVA) last issued its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion for the quarter, compared to the consensus estimate of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same quarter last year, the company earned $0.16 EPS. On average, equities research analysts forecast that Corteva, Inc. will post 2.86 EPS for the current year.

Corteva Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.19%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is presently 62.75%.

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.