Corteva, Inc. (NYSE:CTVA) Position Cut by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. trimmed its stake in Corteva, Inc. (NYSE:CTVA) by 9.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 110,092 shares of the company’s stock after selling 12,070 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Corteva were worth $5,276,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in CTVA. Fairfield Bush & CO. bought a new stake in shares of Corteva during the first quarter valued at about $45,000. Cibc World Market Inc. raised its stake in shares of Corteva by 420.1% during the first quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock valued at $2,178,000 after purchasing an additional 30,605 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Corteva by 2.9% during the first quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock valued at $5,432,000 after purchasing an additional 2,662 shares in the last quarter. Aviva PLC raised its stake in shares of Corteva by 38.1% during the first quarter. Aviva PLC now owns 146,289 shares of the company’s stock valued at $8,409,000 after purchasing an additional 40,391 shares in the last quarter. Finally, Prudential PLC bought a new stake in shares of Corteva during the first quarter valued at about $799,000. 81.54% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research note on Friday, February 2nd. Wells Fargo & Company lifted their price objective on shares of Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, February 2nd. Barclays boosted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 10th. Mizuho dropped 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. Finally, Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and boosted their price target for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Six investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.05.

Corteva Stock Down 0.2 %

Shares of Corteva stock opened at $53.67 on Tuesday. The firm has a market cap of $37.51 billion, a price-to-earnings ratio of 52.62, a P/E/G ratio of 1.40 and a beta of 0.77. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. Corteva, Inc. has a 52-week low of $43.22 and a 52-week high of $63.06. The stock has a 50-day simple moving average of $55.17 and a 200-day simple moving average of $50.20.

Corteva (NYSE:CTVA) last announced its quarterly 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 business had revenue of $3.71 billion during the quarter, compared to analyst estimates 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 company earned $0.16 EPS. On average, equities research analysts expect that Corteva, Inc. will post 2.86 earnings per share for the current fiscal year.

Corteva Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 annualized dividend and a dividend yield of 1.19%. Corteva’s dividend payout ratio is 62.75%.

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.