Mirae Asset Global Investments Co. Ltd. Purchases 11,727 Shares of Corteva, Inc. (NYSE:CTVA)

Mirae Asset Global Investments Co. Ltd. grew its position in shares of Corteva, Inc. (NYSE:CTVA) by 19.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 71,152 shares of the company’s stock after purchasing an additional 11,727 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $4,345,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Flagship Wealth Advisors LLC bought a new position in Corteva during the 4th quarter worth approximately $25,000. Pinney & Scofield Inc. bought a new position in Corteva during the 4th quarter worth approximately $27,000. LGT Financial Advisors LLC bought a new position in Corteva during the 4th quarter worth approximately $31,000. J.Safra Asset Management Corp bought a new position in Corteva during the 4th quarter worth approximately $37,000. Finally, CoreFirst Bank & Trust bought a new position in Corteva during the 4th quarter worth approximately $50,000. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on CTVA shares. Wells Fargo & Company raised their price target on Corteva from $79.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, June 23rd. Citigroup increased their price objective on Corteva from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, May 9th. Morgan Stanley increased their price objective on Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Oppenheimer reiterated an “outperform” rating and issued a $75.00 price objective (up previously from $72.00) on shares of Corteva in a report on Friday, May 9th. Finally, UBS Group increased their price objective on Corteva from $74.00 to $76.00 and gave the stock a “buy” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $72.08.

Corteva Stock Up 0.7%

Shares of NYSE:CTVA opened at $75.02 on Wednesday. The stock has a fifty day simple moving average of $69.16 and a two-hundred day simple moving average of $63.61. The stock has a market capitalization of $51.17 billion, a price-to-earnings ratio of 45.74, a PEG ratio of 1.90 and a beta of 0.76. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $75.22. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07.

Corteva (NYSE:CTVA) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. On average, research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Friday, May 2nd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend was Monday, June 2nd. Corteva’s payout ratio is 41.46%.

About Corteva

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.