Daiwa Securities Group Inc. Cuts Stock Position in Corteva, Inc. (NYSE:CTVA)

Daiwa Securities Group Inc. decreased its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 4.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 96,359 shares of the company’s stock after selling 4,702 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Corteva were worth $4,618,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CVA Family Office LLC purchased a new stake in shares of Corteva during the fourth quarter worth $25,000. BKM Wealth Management LLC acquired a new position in shares of Corteva during the 4th quarter valued at about $27,000. NewSquare Capital LLC boosted its position in shares of Corteva by 70.6% during the 3rd quarter. NewSquare Capital LLC now owns 546 shares of the company’s stock valued at $28,000 after acquiring an additional 226 shares during the last quarter. Glass Jacobson Investment Advisors llc boosted its position in shares of Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock valued at $28,000 after acquiring an additional 389 shares during the last quarter. Finally, Cornerstone Planning Group LLC acquired a new position in shares of Corteva during the 2nd quarter valued at about $28,000. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Corteva Stock Performance

Shares of Corteva stock opened at $54.80 on Friday. The firm has a market capitalization of $38.30 billion, a P/E ratio of 53.73, a P/E/G ratio of 1.40 and a beta of 0.77. Corteva, Inc. has a 52 week low of $43.22 and a 52 week high of $62.10. 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 firm’s 50 day moving average is $55.23 and its two-hundred day moving average is $50.30.

Corteva (NYSE:CTVA) last announced its earnings results on Thursday, February 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.09. The business had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.54 billion. Corteva had a net margin of 4.27% and a return on equity of 7.43%. During the same period last year, the firm posted $0.16 earnings per share. Research analysts forecast that Corteva, Inc. will post 2.84 EPS for the current fiscal year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio is presently 62.75%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on CTVA. Wells Fargo & Company upped their target price on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. Barclays upped their target price on shares of Corteva from $55.00 to $58.00 and gave the company an “equal weight” rating in a research report on Wednesday, April 10th. Oppenheimer upped their target price on shares of Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target on the stock in a research report on Friday, February 2nd. Finally, Mizuho reduced their price target on shares of Corteva from $59.00 to $56.00 and set a “buy” rating on the stock in a research report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $63.29.

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.