Corteva, Inc. (NYSE:CTVA) Shares Bought by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,356 shares of the company’s stock after purchasing an additional 896 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corteva were worth $3,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC acquired a new stake in Corteva in the 4th quarter worth approximately $25,000. BKM Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter valued at $27,000. NewSquare Capital LLC increased its position in shares of Corteva by 70.6% in 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 period. Glass Jacobson Investment Advisors llc lifted its position in Corteva by 234.3% during the 3rd quarter. Glass Jacobson Investment Advisors llc now owns 555 shares of the company’s stock worth $28,000 after acquiring an additional 389 shares during the period. Finally, Union Savings Bank increased its holdings in shares of Corteva by 58.5% in the third quarter. Union Savings Bank now owns 577 shares of the company’s stock valued at $30,000 after purchasing an additional 213 shares during the period. Hedge funds and other institutional investors own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on CTVA. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 price target for the company in a research report on Friday, February 2nd. Wells Fargo & Company increased their price target on Corteva from $54.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, February 2nd. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $57.00 price objective (down previously from $58.00) on shares of Corteva in a report on Friday, April 12th. UBS Group reduced their price target on Corteva from $65.00 to $64.00 and set a “buy” rating for the company in a research report on Thursday, January 11th. Finally, Royal Bank of Canada upped their price objective on Corteva from $56.00 to $64.00 and gave the stock an “outperform” rating in a research report on Friday, February 2nd. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Price Performance

NYSE:CTVA opened at $55.20 on Tuesday. The stock has a 50 day moving average of $55.23 and a two-hundred day moving average of $50.33. Corteva, Inc. has a 12 month low of $43.22 and a 12 month high of $61.87. The firm has a market cap of $38.58 billion, a P/E ratio of 54.12, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09.

Corteva (NYSE:CTVA) last issued its quarterly earnings results on Thursday, February 1st. The company reported $0.15 EPS for the quarter, topping the consensus estimate of $0.06 by $0.09. The firm had revenue of $3.71 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Corteva had a return on equity of 7.43% and a net margin of 4.27%. During the same period in the previous year, the business earned $0.16 earnings per share. On average, analysts expect that Corteva, Inc. will post 2.84 earnings per share for the current fiscal year.

Corteva Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date of this dividend was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is 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.