Corteva, Inc. (NYSE:CTVA) Shares Sold by Daiwa Securities Group Inc.

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of CTVA. Fairfield Bush & CO. acquired a new position in Corteva during the 1st quarter worth approximately $45,000. Cibc World Market Inc. lifted its position in Corteva by 420.1% during the 1st quarter. Cibc World Market Inc. now owns 37,890 shares of the company’s stock worth $2,178,000 after acquiring an additional 30,605 shares in the last quarter. Blair William & Co. IL lifted its position in Corteva by 2.9% during the 1st quarter. Blair William & Co. IL now owns 94,498 shares of the company’s stock worth $5,432,000 after acquiring an additional 2,662 shares in the last quarter. Aviva PLC lifted its position in Corteva by 38.1% during the 1st quarter. Aviva PLC now owns 146,289 shares of the company’s stock worth $8,409,000 after acquiring an additional 40,391 shares in the last quarter. Finally, Prudential PLC acquired a new position in Corteva during the 1st quarter worth approximately $799,000. 81.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on Corteva from $54.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, February 2nd. BNP Paribas raised Corteva from an “underperform” rating to a “neutral” rating and set a $53.00 target price on the stock in a research report on Friday, February 2nd. Royal Bank of Canada upped their target price on Corteva from $56.00 to $64.00 and gave the company an “outperform” rating in a research report on Friday, February 2nd. Oppenheimer upped their target price on Corteva from $62.00 to $67.00 and gave the company an “outperform” rating in a research report on Tuesday. Finally, TheStreet upgraded Corteva from a “c+” rating to a “b-” rating in a report on Tuesday, February 27th. Six analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Corteva has an average rating of “Moderate Buy” and a consensus target price of $63.29.

Corteva Price Performance

Shares of NYSE CTVA opened at $54.80 on Friday. Corteva, Inc. has a 1-year low of $43.22 and a 1-year high of $62.10. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.56 and a quick ratio of 0.90. The business’s fifty day moving average price is $55.23 and its two-hundred day moving average price is $50.30. The firm has a market capitalization of $38.30 billion, a PE ratio of 53.73, a P/E/G ratio of 1.40 and a beta of 0.77.

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

Corteva Dividend Announcement

The firm 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. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date was Thursday, February 29th. Corteva’s dividend payout ratio (DPR) is 62.75%.

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.