Corteva, Inc. $CTVA Shares Sold by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. trimmed its position in shares of Corteva, Inc. (NYSE:CTVA) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 216,319 shares of the company’s stock after selling 10,265 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Corteva were worth $14,634,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Corteva by 0.5% in the second quarter. Vanguard Group Inc. now owns 80,188,326 shares of the company’s stock valued at $5,976,436,000 after purchasing an additional 373,680 shares during the period. Geode Capital Management LLC lifted its holdings in Corteva by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 18,047,263 shares of the company’s stock worth $1,339,651,000 after buying an additional 251,693 shares in the last quarter. Franklin Resources Inc. boosted its position in Corteva by 4.9% in the 2nd quarter. Franklin Resources Inc. now owns 17,680,238 shares of the company’s stock valued at $1,317,708,000 after buying an additional 824,451 shares during the period. WCM Investment Management LLC grew its stake in shares of Corteva by 29.6% in the second quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock worth $672,836,000 after acquiring an additional 2,066,519 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Corteva during the second quarter worth $434,220,000. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on CTVA shares. KeyCorp reiterated a “sector weight” rating on shares of Corteva in a report on Friday, October 3rd. UBS Group decreased their price objective on Corteva from $85.00 to $81.00 and set a “buy” rating for the company in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c-)” rating on shares of Corteva in a research note on Monday, December 29th. Wells Fargo & Company reduced their target price on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Wolfe Research boosted their price target on shares of Corteva from $80.00 to $81.00 and gave the stock an “outperform” rating in a report on Friday, January 16th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Corteva presently has an average rating of “Moderate Buy” and an average price target of $79.47.

Corteva Stock Performance

Shares of Corteva stock opened at $71.68 on Monday. The firm’s 50 day moving average is $67.26 and its two-hundred day moving average is $68.35. Corteva, Inc. has a 52 week low of $53.40 and a 52 week high of $77.41. The company has a quick ratio of 1.07, a current ratio of 1.58 and a debt-to-equity ratio of 0.07. The firm has a market capitalization of $48.44 billion, a P/E ratio of 30.63, a P/E/G ratio of 1.82 and a beta of 0.74.

Corteva (NYSE:CTVA) last posted its earnings results on Tuesday, November 4th. The company reported ($0.23) EPS for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm had revenue of $2.62 billion for the quarter, compared to the consensus estimate of $2.47 billion. During the same period last year, the firm posted ($0.49) EPS. The company’s revenue was up 6.5% on a year-over-year basis. Research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 1.0%. The ex-dividend date of this dividend was Monday, December 1st. Corteva’s payout ratio is presently 30.77%.

Corteva Company Profile

Corteva, Inc (NYSE: CTVA) is an independent global agriculture company that was established as a publicly traded firm in mid‑2019 following the separation of the agriculture businesses from DowDuPont. The company focuses on delivering technologies and products that help farmers increase productivity and manage crop health. Corteva’s operations combine seed genetics, crop protection chemistries, digital tools and biological solutions to address the full cycle of crop production.

Core business activities include research and development of seed genetics and trait technologies, formulation and sale of crop protection products (such as herbicides, insecticides and fungicides), and the development of seed treatments and biologicals.