Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stock Holdings in Corteva, Inc. (NYSE:CTVA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Corteva, Inc. (NYSE:CTVA) by 1.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 reporting period.

Other large investors have also modified their holdings of the company. WCM Investment Management LLC grew its holdings in Corteva by 3.1% during the fourth quarter. WCM Investment Management LLC now owns 7,103,146 shares of the company’s stock worth $341,590,000 after acquiring an additional 213,949 shares during the period. 17 Capital Partners LLC purchased a new position in shares of Corteva in the 4th quarter valued at about $1,649,000. Factory Mutual Insurance Co. lifted its stake in shares of Corteva by 10.7% in the fourth quarter. Factory Mutual Insurance Co. now owns 532,558 shares of the company’s stock valued at $25,520,000 after purchasing an additional 51,500 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in Corteva by 9.7% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 777,833 shares of the company’s stock worth $39,794,000 after buying an additional 68,593 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in Corteva by 1.1% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 2,760,701 shares of the company’s stock worth $132,293,000 after buying an additional 31,171 shares during the period. 81.54% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on CTVA shares. KeyCorp upped their price target on Corteva from $63.00 to $66.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $57.00 price target (down previously from $58.00) on shares of Corteva in a research note on Friday, April 12th. Wolfe Research started coverage on shares of Corteva in a research note on Friday, March 1st. They issued an “outperform” rating and a $67.00 price objective on the stock. Loop Capital upgraded shares of Corteva from a “hold” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $65.00 in a research report on Monday, February 12th. Finally, Mizuho lowered 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. Six equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $63.29.

Corteva Stock Performance

NYSE CTVA opened at $55.20 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 0.90 and a debt-to-equity ratio of 0.09. The company has a market capitalization of $38.58 billion, a PE ratio of 54.12, a price-to-earnings-growth ratio of 1.44 and a beta of 0.77. The business’s 50-day moving average price is $55.23 and its 200 day moving average price is $50.33. Corteva, Inc. has a twelve month low of $43.22 and a twelve month high of $61.87.

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

Corteva Dividend Announcement

The company also recently disclosed 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 was Thursday, February 29th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.16%. Corteva’s payout ratio 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.