Corteva, Inc. (NYSE:CTVA) Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its stake in Corteva, Inc. (NYSE:CTVA - Free Report) by 1.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,191,949 shares of the company's stock after purchasing an additional 38,575 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.32% of Corteva worth $137,939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of CTVA. Allspring Global Investments Holdings LLC grew its stake in Corteva by 3.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 47,668 shares of the company's stock valued at $3,029,000 after purchasing an additional 1,602 shares during the last quarter. TCV Trust & Wealth Management Inc. acquired a new stake in shares of Corteva during the first quarter worth about $218,000. 3Chopt Investment Partners LLC purchased a new stake in Corteva in the first quarter valued at approximately $333,000. U S Global Investors Inc. acquired a new position in Corteva in the 1st quarter worth approximately $378,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in Corteva by 19.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 71,152 shares of the company's stock worth $4,345,000 after buying an additional 11,727 shares during the last quarter. Institutional investors and hedge funds own 81.54% of the company's stock.

Corteva Stock Performance

Shares of CTVA stock opened at $74.38 on Friday. The company has a current ratio of 1.44, a quick ratio of 1.00 and a debt-to-equity ratio of 0.07. Corteva, Inc. has a 12-month low of $50.30 and a 12-month high of $75.05. The business's 50 day moving average is $68.57 and its two-hundred day moving average is $63.39. The company has a market capitalization of $50.74 billion, a P/E ratio of 45.35, a P/E/G ratio of 1.90 and a beta of 0.75.

Corteva (NYSE:CTVA - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $1.13 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.25. Corteva had a return on equity of 7.84% and a net margin of 6.77%. The business had revenue of $4.42 billion during the quarter, compared to the consensus estimate of $4.56 billion. During the same period in the prior year, the company posted $0.89 EPS. The business's quarterly revenue was down 1.7% on a year-over-year basis. Analysts expect that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Friday, May 2nd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.68 annualized dividend and a dividend yield of 0.91%. Corteva's dividend payout ratio (DPR) is 41.46%.

Analyst Ratings Changes

A number of analysts have recently weighed in on CTVA shares. The Goldman Sachs Group began coverage on shares of Corteva in a research note on Thursday, March 13th. They issued a "buy" rating and a $71.00 price objective on the stock. Citigroup increased their price target on Corteva from $75.00 to $78.00 and gave the stock a "buy" rating in a research report on Friday, May 9th. Oppenheimer reiterated an "outperform" rating and set a $75.00 price objective (up previously from $72.00) on shares of Corteva in a research note on Friday, May 9th. Argus upgraded Corteva from a "hold" rating to a "buy" rating and set a $69.00 target price on the stock in a research note on Monday, March 31st. Finally, Wells Fargo & Company raised their target price on Corteva from $79.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, June 23rd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $72.08.

Corteva Profile

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.

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