Rakuten Investment Management Inc. Takes $10.16 Million Position in Corteva, Inc. $CTVA

Rakuten Investment Management Inc. purchased a new stake in Corteva, Inc. (NYSE:CTVA) during the 3rd quarter, HoldingsChannel reports. The firm purchased 150,156 shares of the company’s stock, valued at approximately $10,155,000.

Several other institutional investors have also added to or reduced their stakes in CTVA. Norges Bank purchased a new position in shares of Corteva during the second quarter valued at about $434,220,000. Pacer Advisors Inc. lifted its holdings in Corteva by 4,007.1% in the third quarter. Pacer Advisors Inc. now owns 2,442,177 shares of the company’s stock worth $165,164,000 after buying an additional 2,382,715 shares during the period. WCM Investment Management LLC boosted its position in Corteva by 29.6% during the 2nd quarter. WCM Investment Management LLC now owns 9,044,706 shares of the company’s stock valued at $672,836,000 after acquiring an additional 2,066,519 shares in the last quarter. Marshall Wace LLP grew its holdings in shares of Corteva by 1,365.9% during the 2nd quarter. Marshall Wace LLP now owns 1,809,764 shares of the company’s stock worth $134,882,000 after acquiring an additional 1,686,309 shares during the period. Finally, National Pension Service lifted its stake in shares of Corteva by 148.4% in the 2nd quarter. National Pension Service now owns 2,454,601 shares of the company’s stock valued at $182,941,000 after purchasing an additional 1,466,268 shares during the period. 81.54% of the stock is currently owned by institutional investors.

Corteva Stock Performance

Shares of CTVA opened at $71.48 on Thursday. The company has a market cap of $48.30 billion, a price-to-earnings ratio of 30.55, a P/E/G ratio of 1.39 and a beta of 0.74. The business’s fifty day simple moving average is $67.04 and its two-hundred day simple moving average is $68.47. Corteva, Inc. has a 12 month low of $53.40 and a 12 month high of $77.41. The company has a current ratio of 1.58, a quick ratio of 1.07 and a debt-to-equity ratio of 0.07.

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

Corteva Dividend Announcement

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

Wall Street Analysts Forecast Growth

CTVA has been the subject of several recent research reports. KeyCorp reissued a “sector weight” rating on shares of Corteva in a research report on Friday, October 3rd. BNP Paribas Exane lifted their price target on shares of Corteva from $70.00 to $72.00 and gave the company a “neutral” rating in a research report on Monday, November 17th. Royal Bank Of Canada dropped their price objective on shares of Corteva from $86.00 to $80.00 and set an “outperform” rating on the stock in a research note on Friday, October 17th. Wall Street Zen raised shares of Corteva from a “hold” rating to a “buy” rating in a research note on Saturday, January 17th. Finally, Wells Fargo & Company dropped their price target on Corteva from $80.00 to $77.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corteva currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.47.

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.