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

Resona Asset Management Co. Ltd. trimmed its holdings in Corteva, Inc. (NYSE:CTVA) by 4.5% during 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.

A number of other large investors have also recently bought and sold shares of the business. Brighton Jones LLC raised its holdings in shares of Corteva by 307.2% in the fourth quarter. Brighton Jones LLC now owns 15,588 shares of the company’s stock valued at $888,000 after buying an additional 11,760 shares during the last quarter. Woodline Partners LP raised its stake in Corteva by 40.3% during the 1st quarter. Woodline Partners LP now owns 57,919 shares of the company’s stock valued at $3,645,000 after acquiring an additional 16,644 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Corteva by 20.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 5,282 shares of the company’s stock valued at $394,000 after acquiring an additional 895 shares during the last quarter. TD Private Client Wealth LLC lifted its position in Corteva by 10.9% during the 2nd quarter. TD Private Client Wealth LLC now owns 4,115 shares of the company’s stock worth $307,000 after acquiring an additional 406 shares during the period. Finally, Patton Fund Management Inc. purchased a new position in shares of Corteva in the 2nd quarter valued at approximately $267,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Zacks Research upgraded Corteva from a “hold” rating to a “strong-buy” rating in a research note on Thursday. Wells Fargo & Company cut their price objective on shares of Corteva from $80.00 to $77.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Jefferies Financial Group lowered their target price on shares of Corteva from $92.00 to $85.00 in a report on Thursday, October 2nd. Wolfe Research increased 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. Finally, Oppenheimer restated an “outperform” rating and issued a $76.00 price objective on shares of Corteva in a research report on Friday, November 7th. Two investment analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Corteva presently has a consensus rating of “Moderate Buy” and an average price target of $79.47.

Corteva Stock Up 0.2%

CTVA stock opened at $71.68 on Monday. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07. The company’s 50-day moving average price is $67.26 and its 200 day moving average price 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 market cap 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 issued its earnings results on Tuesday, November 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.49) by $0.26. The company had revenue of $2.62 billion during the quarter, compared to analysts’ expectations of $2.47 billion. Corteva had a net margin of 9.19% and a return on equity of 9.37%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted ($0.49) earnings per share. On average, research analysts expect that Corteva, Inc. will post 2.96 earnings per share for the current fiscal year.

Corteva Dividend Announcement

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

Corteva 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.