Point72 Asia Singapore Pte. Ltd. Invests $509,000 in Corteva, Inc. (NYSE:CTVA)

Point72 Asia Singapore Pte. Ltd. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 8,938 shares of the company’s stock, valued at approximately $509,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in CTVA. Flagship Wealth Advisors LLC purchased a new position in shares of Corteva during the 4th quarter worth $25,000. Noble Wealth Management PBC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $26,000. Hager Investment Management Services LLC acquired a new stake in shares of Corteva in the fourth quarter valued at approximately $27,000. LGT Financial Advisors LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $31,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Corteva during the fourth quarter worth approximately $32,000. Institutional investors and hedge funds own 81.54% of the company’s stock.

Insider Transactions at Corteva

In related news, insider Brian Titus sold 26,560 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $63.74, for a total value of $1,692,934.40. Following the sale, the insider now directly owns 11,347 shares of the company’s stock, valued at $723,257.78. This trade represents a 70.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.14% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. UBS Group raised their price target on Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a research report on Thursday, May 8th. KeyCorp lifted their price objective on Corteva from $71.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Wells Fargo & Company raised their target price on Corteva from $73.00 to $79.00 and gave the company an “overweight” rating in a report on Monday. The Goldman Sachs Group assumed coverage on Corteva in a research report on Thursday, March 13th. They issued a “buy” rating and a $71.00 target price for the company. Finally, Royal Bank of Canada boosted their price objective on Corteva from $72.00 to $73.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $70.50.

Corteva Trading Up 1.0%

NYSE CTVA opened at $68.29 on Friday. The business’s 50-day moving average price is $61.44 and its two-hundred day moving average price is $60.93. Corteva, Inc. has a 12 month low of $50.01 and a 12 month high of $69.28. The firm has a market capitalization of $46.64 billion, a PE ratio of 52.94, a price-to-earnings-growth ratio of 1.68 and a beta of 0.72. The company has a current ratio of 1.45, a quick ratio of 0.93 and a debt-to-equity ratio of 0.08.

Corteva (NYSE:CTVA) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. The business had revenue of $4.42 billion for the quarter, compared to the consensus estimate of $4.56 billion. Corteva had a return on equity of 7.19% and a net margin of 5.36%. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.89 EPS. On average, analysts expect that Corteva, Inc. will post 2.96 EPS for the current year.

Corteva Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 2nd will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Monday, June 2nd. Corteva’s payout ratio is currently 41.46%.

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.