Asset Management One Co. Ltd. Purchases 70,025 Shares of Corteva, Inc. (NYSE:CTVA)

Asset Management One Co. Ltd. increased its position in shares of Corteva, Inc. (NYSE:CTVA) by 26.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 334,294 shares of the company’s stock after purchasing an additional 70,025 shares during the period. Asset Management One Co. Ltd.’s holdings in Corteva were worth $21,037,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Oppenheimer & Co. Inc. increased its holdings in Corteva by 3.6% in the 1st quarter. Oppenheimer & Co. Inc. now owns 36,941 shares of the company’s stock valued at $2,325,000 after acquiring an additional 1,279 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in Corteva by 12.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 49,377 shares of the company’s stock valued at $3,107,000 after acquiring an additional 5,456 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Corteva in the 1st quarter valued at $1,259,000. Garde Capital Inc. bought a new stake in Corteva in the 1st quarter valued at $66,000. Finally, GAM Holding AG increased its holdings in Corteva by 23.1% in the 1st quarter. GAM Holding AG now owns 17,047 shares of the company’s stock valued at $1,073,000 after acquiring an additional 3,202 shares during the last quarter. 81.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CTVA has been the topic of a number of research reports. Argus upgraded shares of Corteva from a “hold” rating to a “buy” rating and set a $69.00 price target on the stock in a report on Monday, March 31st. UBS Group lifted their price target on shares of Corteva from $74.00 to $76.00 and gave the company a “buy” rating in a report on Thursday, May 8th. Barclays lifted their price target on shares of Corteva from $64.00 to $70.00 and gave the company an “equal weight” rating in a report on Wednesday, May 14th. The Goldman Sachs Group initiated coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a “buy” rating and a $71.00 price objective for the company. Finally, Morgan Stanley lifted their price objective on shares of Corteva from $65.00 to $71.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Corteva currently has an average rating of “Moderate Buy” and an average target price of $72.08.

Corteva Price Performance

CTVA stock opened at $73.30 on Thursday. Corteva, Inc. has a 12 month low of $50.30 and a 12 month high of $74.96. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. The company has a 50-day moving average price of $67.98 and a 200 day moving average price of $63.16. The stock has a market cap of $50.00 billion, a PE ratio of 44.70, a P/E/G ratio of 1.87 and a beta of 0.75.

Corteva (NYSE:CTVA) last released its quarterly earnings results on Wednesday, May 7th. The company reported $1.13 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.25. Corteva had a net margin of 6.77% and a return on equity of 7.84%. The firm had revenue of $4.42 billion during the quarter, compared to analysts’ expectations of $4.56 billion. During the same period in the previous year, the company earned $0.89 EPS. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities research analysts anticipate that Corteva, Inc. will post 2.96 earnings per share for the current year.

Corteva Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Friday, May 2nd were paid a dividend of $0.17 per share. The ex-dividend date was Monday, June 2nd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. Corteva’s dividend payout ratio is presently 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.