Corteva, Inc. $CTVA Shares Acquired by Korea Investment CORP

Key Points

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Korea Investment CORP lifted its position in shares of Corteva, Inc. (NYSE:CTVA - Free Report) by 10.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 674,712 shares of the company's stock after buying an additional 63,964 shares during the quarter. Korea Investment CORP owned approximately 0.10% of Corteva worth $42,460,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of CTVA. Brighton Jones LLC grew its holdings in 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 purchasing an additional 11,760 shares during the period. XTX Topco Ltd purchased a new stake in Corteva in the fourth quarter valued at approximately $404,000. Jump Financial LLC purchased a new stake in Corteva in the fourth quarter valued at approximately $821,000. NewEdge Advisors LLC grew its holdings in Corteva by 10.2% in the fourth quarter. NewEdge Advisors LLC now owns 31,303 shares of the company's stock valued at $1,783,000 after purchasing an additional 2,896 shares during the period. Finally, Marshall Wace LLP grew its holdings in Corteva by 659.4% in the fourth quarter. Marshall Wace LLP now owns 31,600 shares of the company's stock valued at $1,800,000 after purchasing an additional 27,439 shares during the period. 81.54% of the stock is currently owned by hedge funds and other institutional investors.

Corteva Trading Up 0.5%

CTVA stock traded up $0.3350 during midday trading on Friday, reaching $73.3150. 2,664,002 shares of the company's stock traded hands, compared to its average volume of 4,041,995. The company has a market capitalization of $49.79 billion, a P/E ratio of 35.76, a PEG ratio of 1.68 and a beta of 0.75. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.68 and a quick ratio of 1.23. Corteva, Inc. has a fifty-two week low of $53.40 and a fifty-two week high of $77.41. The business has a 50-day moving average price of $73.42 and a two-hundred day moving average price of $67.10.

Corteva (NYSE:CTVA - Get Free Report) last announced its quarterly earnings results on Wednesday, August 6th. The company reported $2.20 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.31. The firm had revenue of $6.46 billion for the quarter, compared to analysts' expectations of $6.26 billion. Corteva had a net margin of 8.16% and a return on equity of 8.68%. Corteva's revenue was up 5.6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.83 earnings per share. Equities research analysts forecast that Corteva, Inc. will post 2.96 EPS for the current fiscal year.

Corteva Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This is an increase from Corteva's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.0%. Corteva's dividend payout ratio is presently 33.17%.

Analysts Set New Price Targets

CTVA has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Corteva from $65.00 to $71.00 and gave the company an "overweight" rating in a report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating on shares of Corteva in a report on Monday, August 11th. Citigroup boosted their target price on shares of Corteva from $75.00 to $78.00 and gave the company a "buy" rating in a report on Friday, May 9th. Barclays upgraded shares of Corteva from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $75.00 to $84.00 in a report on Wednesday, August 13th. Finally, BMO Capital Markets lifted their price target on shares of Corteva from $74.00 to $86.00 and gave the company an "outperform" rating in a research report on Tuesday, July 8th. Thirteen analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.25.

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.