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

Sumitomo Mitsui Trust Holdings Inc. boosted its position in Corteva, Inc. (NYSE:CTVA) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,760,701 shares of the company’s stock after acquiring an additional 31,171 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.39% of Corteva worth $132,293,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in CTVA. Moneta Group Investment Advisors LLC increased its stake in Corteva by 110,628.9% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 7,904,934 shares of the company’s stock valued at $464,652,000 after acquiring an additional 7,897,795 shares during the last quarter. Norges Bank bought a new stake in shares of Corteva during the fourth quarter worth $328,936,000. Harris Associates L P bought a new stake in shares of Corteva during the third quarter worth $246,423,000. Van ECK Associates Corp grew its stake in shares of Corteva by 78.7% during the third quarter. Van ECK Associates Corp now owns 7,645,091 shares of the company’s stock worth $391,123,000 after buying an additional 3,366,106 shares during the last quarter. Finally, Wells Fargo & Company MN grew its stake in shares of Corteva by 283.5% during the second quarter. Wells Fargo & Company MN now owns 4,482,718 shares of the company’s stock worth $256,860,000 after buying an additional 3,313,768 shares during the last quarter. 81.54% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Loop Capital raised shares of Corteva from a “hold” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $65.00 in a research note on Monday, February 12th. BNP Paribas raised shares of Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research note on Friday, February 2nd. Barclays lifted their price target on shares of Corteva from $55.00 to $58.00 and gave the stock an “equal weight” rating in a report on Wednesday, April 10th. TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Finally, Oppenheimer lifted their target price on Corteva from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Corteva has an average rating of “Moderate Buy” and an average price target of $63.05.

Corteva Stock Performance

NYSE:CTVA opened at $53.67 on Tuesday. The company has a fifty day moving average of $55.17 and a 200-day moving average of $50.20. The firm has a market capitalization of $37.51 billion, a P/E ratio of 52.62, a P/E/G ratio of 1.40 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 1.56 and a debt-to-equity ratio of 0.09. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $63.06.

Corteva (NYSE:CTVA) last released its quarterly earnings data on Thursday, February 1st. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.09. The company had revenue of $3.71 billion during 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 quarter in the previous year, the business posted $0.16 EPS. As a group, sell-side analysts anticipate that Corteva, Inc. will post 2.86 EPS for the current year.

Corteva Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a yield of 1.19%. 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.